845.515/546
The Under Secretary of State (Stettinius) to the Administrator of the Foreign Economic Administration (Crowley)
Dear Leo: With reference to my letter of February 17 on Indian silver, I am enclosing herewith a copy of a letter from Lord Halifax, dated February 2953 requesting reconsideration of the decision regarding the guarantee for the return of the 100,000,000 ounces of silver for use in India. You will note that he requests immediate shipment of 10,000,000 ounces without prejudice to the larger question.
I have told Lord Halifax that we shall review carefully the decision regarding guarantees and that in the meantime I felt it would be possible to ship the 10,000,000 ounces without prejudicing the final decision, and with the understanding that the decision on the guarantee for the remaining 90,000,000 ounces will also apply to the emergency shipment of 10,000,000 ounces.
With the understanding outlined above, I would appreciate it if you would consult with your administration and Treasury Department in order to determine the manner in which the 10,000,000 ounce shipment should be temporarily documented.
With best wishes,
Sincerely yours,