882.515/72: Telegram
The Acting Secretary of State to the Chargé in Liberia (Hibbard)
187. Your 240, July 3 [23], 4 p.m. and Department’s 174, June 30, 11 p.m. You are instructed to present to the Liberian Secretary of State a note which will read as follows:
“I have been authorized by my Government to inform you that the United States Secretary of the Treasury is prepared to purchase in Monrovia from the Liberian Government British current coin held or accumulated from time to time in the Liberian Treasury or the Bank of Monrovia and offered for sale to the Secretary of the Treasury. The British coin under reference will be purchased with United States coin by the Secretary of the Treasury at the rate of $4 U.S. for 1 pound sterling, provided that the aggregate amount purchased by the Secretary of the Treasury does not exceed 500,000 pounds sterling ($2,000,000 U.S.). Payment for the British coins will be made in Monrovia with United States coin transported to Monrovia at the expense of the United States Government. Any obligation of the Government of the United States or the Secretary of the Treasury to buy British coin hereunder shall terminate on June 30, 1943, subject to earlier termination at any date by the Secretary of the Treasury, and such termination shall be without prejudice to prior transactions. It is understood that the Liberian Government agrees that such British coins acquired by the Secretary of the Treasury are free for export from Liberia for other disposition by the Secretary of the Treasury. The Liberian Government is requested to assure the Secretary of the Treasury that any British coin sold to the Secretary of the Treasury hereunder shall have been acquired by the Liberian Treasury or the Bank of Monrovia at a rate not less than $4 U.S. for 1 pound sterling.”
Please confirm agreement of the Liberian Government to the foregoing.