868.51 War Credits/675

The Acting Secretary of State to the Minister in Greece (MacVeagh)

No. 122

Sir: The receipt is acknowledged of your despatch No. 325, of July 30, 1934, reporting, in reply to the Department’s instruction No. 104, of July 13, 1934, on the payment to the Government of the United States by the Government of Greece on July 6, 1934, of $196,128, in connection with interest due on the 4% United States Government loan to Greece of May 10, 1929.

On page 2 of your despatch it is stated that “the funds necessary for the above payment were released by the International Financial Commission with the consent of the French member, since a unanimous decision is necessary for such action”. Article II of the Greek law of February 26, 1898, establishing the International Financial Commission in accordance with Article 2 of the Preliminaries of Peace between Turkey and Greece signed at Constantinople September 18, 1897,10 provided in part that “the decisions of the International Commission shall be taken by absolute majority of the voices”. Article 209 of the Treaty of Saint Germain11 and Article 258 of the Treaty of Versailles,12 by virtue of which Austria and Germany, respectively, lost representation on the Commission, do not specifically mention the International Financial Commission and contain no provision relating to the procedure by which that Commission shall arrive at decisions. Under the circumstances, and as the Department may at some time need prompt and full information as to the procedure of the Commission, it is desired that you obtain and transmit to the Department, in translation, the text of the act amending the Commission’s procedure from majority to unanimous decision.

Very truly yours,

William Phillips
  1. British and Foreign State Papers, vol. xc, p. 546.
  2. Treaties, Conventions, etc., Between the United States of America and Other Powers, 1910–1923 (Washington, Government Printing Office, 1923), vol. iii, pp. 3149, 3226.
  3. Ibid., pp. 3329, 3443.