890F.515/20: Telegram
The Minister Resident in Saudi Arabia (Moose) to the Secretary of State
[Received 5:45 p.m.]
70. My 66, July 14, 6 p.m. Third hundred thousand sovereigns arrived today. Saudi Government has been borrowing locally and substantial portion of new shipment will be used for repayments. Thus financial tension will be eased only slightly if at all. Meanwhile pilgrimage draws nearer.
Unless a decision is reached with regard to silver for Saudi Arabia before Colonel Hoskins83 sees King, certain of King’s advisers will inevitably interpret delay in formulating silver policy as designed to [Page 880] influence King’s reply and such interpretation may plague future relations with Saudi Arabia.
Hoskins is being advised of possibility.