711.1928/334
Sullivan & Cromwell to the Secretary of State
[Received February 28.]
Dear Sir: We beg to acknowledge herewith your letter of February 26, 1935 (BA—711.1928)31 addressed to William Nelson Cromwell, [Page 922] as Fiscal Agent of the Republic of Panama, and enclosing a copy of the Comptroller General’s settlement Certificate No. 0350683, dated February 26, 1935, check on the Treasurer of the United States, No. 34,602, dated February 26, 1935, to the order of William Nelson Cromwell, Fiscal Agent of the Republic of Panama, for $250,000 “in settlement of the annuity due the Republic of Panama on February 26, 1935, under Treaty of November 18, 1903”, and a form of receipt therefor.
This form of receipt contains the statement that the aforementioned check is “in full payment of the annuity due the Republic of Panama February 26, 1935”, etc.
In the absence from New York of Mr. Cromwell, but acting under his instructions, we beg to acknowledge your communication and to advise you that the Republic of Panama maintains the position that under the terms of the above mentioned Treaty, the Annuity should be paid in gold coin like that existing in 1904. Consequently, and in view of the aforementioned advice from the Government of Panama that it does not consider that the payment in question constitutes payment in full of the said Treaty Annuity, the Fiscal Agent considers that he cannot accept the check as tendered and the undersigned, on behalf of the Fiscal Agent, are returning the check herewith.
Respectfully yours,
- Not printed.↩