868.51 War Credits/708

The Acting Secretary of the Treasury (Coolidge) to the Secretary of State

Sir: Receipt is acknowledged of your letter of February 3, 1936, (File EA 868.51 War Credits/706) enclosing a copy of a note from the Greek Minister at Washington stating that the Ministry of Finance of Greece is ready to effect a payment to the Treasury of 35% of the interest due on May 10, 1935 and on November 10, 1935, under part 2 [Page 310] of the Debt agreement of May 10, 1929, and also enclosing for my consideration and approval, a draft of a reply which you might make to the Greek Minister.

I agree with your statement that there is no sufficient reason why the United States should not receive, with appropriate reservations, the amount the Greek government is prepared to tender. The draft of your reply to the Greek Minister appears sufficient to protect the contractual rights of the Government of the United States under part 2 of the debt agreement of May 10, 1929, and I have no suggestions to make with respect to the terms of your reply.

Very truly yours,

T. J. Coolidge