882.515/72: Telegram
The Chargé in Liberia ( Hibbard ) to the Secretary of State
[Received July 23—3:34 p.m.]
240. My telegram number 237, July 17, 1 p.m. After further discussions with the financial adviser and the acting bank manager regarding the conversion of British into American coinage here, it has been estimated that $2,000,000 will be required for the operation. McBride estimated that the Army would require approximately 1,500,000 for its payroll of which 300,000 has now arrived. In addition it was hoped that the War Department would consent to transport 500,000 for the bank from its depository in New York. All this money need not come at once and the transport can be spaced over regular intervals.
The conversion can be begun now with the Army funds on hand plus 50,000 in the hands of the bank. The present would seem a most favorable time to begin since tax money is now coming in from the interior and rice money will soon be going back. Army payroll is being held up until the Treasury reaches a decision and I would therefore [Page 435] appreciate an early reply to my telegram above referred to in order that final details may be completed.