845.515/529

The Acting Secretary of State to the Administrator of the Foreign Economic Administration ( Crowley )

My Dear Mr. Crowley: We have considered your letter of January 27, 1944, on the proposed transfer under the Act of March 11, 1941,51 of 100 million ounces of silver for use in India.

You state that question has arisen concerning “whether the transaction and the return agreement” should be arranged direct with the Government of India or with the British Government.

It is the view of this Department that the obligation for the return of the silver should be assumed jointly by the Government of Great Britain and the Government of India.

Sincerely yours,

Edward E. Stettinius, Jr.
  1. 55 Stat. 31.