The Under Secretary of State (Welles) to the Colombian Ambassador (Turbay)
My Dear Mr. Ambassador: I acknowledge the receipt of your letter No. 854 of April 28, 1941 enclosing copies of the proposed Offer, Paying Agency Agreement, form of Bond, Exchange Agency Agreement and form of Certificate to be used in connection with the permanent settlement of the External Sinking Fund Gold Bonds of 1927 and 1928 of the Republic of Colombia announced by you on December 30, 1940.
The Department has examined these documents and compared them with the general bases presented in your letter No. 2325 of December 30, 194089 and the press release at that time issued by your Embassy. It is the Department’s opinion that the present detailed offer is substantially in accordance with the general bases which you outlined in December and regarding which, as you indicate, the Department issued a press release of December 30 , 1940 on behalf of itself, the Treasury Department and the Federal Loan Administrator.90
The Department welcomes the action of the Colombian Government in making this formal offer to the holders of its dollar bonds and takes pleasure in reiterating the favorable appraisal of this offer contained in the press release under reference.
I am [etc.]