882.515/71: Telegram
The Chargé in Liberia (Hibbard) to the Secretary of State
[Received 7:24 p.m.]
237. Department’s telegram 174, June 30, 11 p.m. In discussing the conversion of British into American coins with the officials here there is some confusion as to exactly what the Treasury Department means by the phrase “arrangements will be made from time to time to convert such accumulations of coins either into sterling balances or into dollars” in the telegram under reference. If it means that the withdrawn British coin will be paid for in credits in New York or London the plan will [not] be feasible since neither the Bank of Monrovia nor the Liberian Government can use credits in London and a credit in New York would leave to the Government or the Bank the problem of transporting the actual coins from New York to Liberia which neither is prepared to do. It was my understanding that the plan involved transportation of United States currency to Liberia on Army transports to replace the British silver; that this currency would be deposited in the Bank of Monrovia as conversion agent which would place it in circulation as the British silver is withdrawn.
Please instruct.