882.51/10–2545: Telegram

The Minister in Liberia ( Walton ) to the Secretary of State

420. I have learned from a strictly confidential source that among items included in Liberian Government’s contemplated loan for prosecution [Page 597] of 5-year program are: (in dollars) education 3,000,000; health 1,865,000; roads 6,000,000; light, power and water 3,000,000; agriculture 1,750,000; industries 1,000,000; transportation 4,200,000 of which 4,000,000 is for railroad construction; radio 261,000; telephone system 30,000; postal facilities 60,400; inland waterways 25,000; coastwise transportation 175,000; banking facilities for making development loans 250,000; scientific industrial research 1,000,000; centennial celebration 3,018,000; for study on capital removal 100,000.

Liquidation of loan in 50 years, amortization to begin after 5 years, interest to begin at once chargeable to Government revenues.

On 23d instant Secretary State Dennis cabled and stated President Tubman had requested that I inform my Government of Liberian Government’s intention to send delegation to Washington “to discuss 5-year plan of development”. I inquired if request was formal and on receiving affirmative reply suggested transmission of formal note to Legation as matter of record which was done.

Neither President nor Secretary State has specifically referred to loan orally or in writing obviously because I have repeatedly emphasized economy in keeping with Department’s expressed policy.

As John Adunaway, financial adviser, is now in USA his appointment as a member of any delegation seeking a loan should be very helpful.

Walton