882.515/69: Telegram
The Chargé in Liberia (Hibbard) to the Secretary of State
[Received June 26—8:46 a.m.]
213. Legation’s telegram 62, March 1 [8], 8 [10] a.m. Finance officer of the American contingent has with him $300,000 worth of American silver coins and proposes to begin payment of troops at the [Page 433] end of the month. I would appreciate instructions as to whether this sum is to be put into circulation here as the beginning of the substitution of American for British currency as outlined by McBride in the telegram above referred to. In this case arrangements will have to be made for the gradual withdrawal by the bank of British currency. If, however, it is intended to put it in circulation side by side with British currency now here arrangements must be made to have it declared legal tender for all purposes at the rate of $4 to the pound as already suggested.