800.51W89 Great Britain/647½
Memorandum, by the Secretary of State
The British Ambassador called and made oral reply to my inquiry of several weeks ago as to whether the British Government would be disposed to make certain payments in kind on its indebtedness due to this Government. I had made reference to tin in particular. The Ambassador said that his Government was obliged to reply adversely to the suggestion; that his Government could not undertake piecemeal payments unless and until the true amount of the total indebtedness should be further considered and finally agreed upon by the two governments; that it would disrupt the markets for his Government to undertake to make the necessary purchases to be delivered in kind to this Government—that none of it (referring to tin) was produced within the British Empire; and that the exchange situation also would interfere. The Ambassador expressed the hope that in due time further and final consideration as stated would be given by the two Governments with a view to determining just what amount this Government would be willing to accept and the British Government willing to pay in full settlement.