868.51 War Credits/718

The Secretary of State to the Greek Minister (Sicilianos)

Sir: I am requested by the Secretary of the Treasury to notify the Government of Greece that on March 26, 1936, there was deposited [Page 312]with the Federal Reserve Bank of New York the sum of $152,544 by the Bank of Greece for account of the Government of Greece as a partial payment of interest due from that Government to the United States on May 10 and November 10, 1935. The Treasury applied $76,272 of these funds to the payment of 35 percent of the semiannual interest, amounting to $217,920, due May 10, 1935, and $76,272 to the payment of 35 percent of the semi-annual interest, amounting to $217,920, due November 10, 1935, on the four percent loan of 1929.

In view of a communication of March 12, 1936, addressed to the Federal Reserve Bank of New York by the Bank of Greece, authorizing the above payment to the Treasury of the United States, the Treasury Department in a letter addressed April 11, 1936, to the Bank of Greece notified the latter that the payment was received without prejudice to the contractual rights of the United States, which are set forth in Part II of the Debt Agreement of May 10, 1929, and in accordance with the position of the United States Government stated in a note addressed by the Secretary of State to the Greek Minister at Washington, February 8, 1936.

Accept [etc.]

Cordell Hull