865.24 FLC/7–2147
The Deputy Central Field Commissioner for Europe, Office of the Foreign Liquidation Commissioner (Taff) to the Italian Minister of the Treasury (Del Vecchio)
Dear Mr. Minister: Reference is made to the Agreement reached this date between our two Governments concerning the bulk acquisition by the Italian Government of certain property surplus to the needs of the Government of the United States.
Under the terms of said Agreement, the Government of the United States reserved for itself the right to require the Italian Government to transfer to the Government of the United States up to the equivalent of $10,000,000 in real properties and improvements thereto over the thirty-year period of the Agreement.
[Page 942]I would like to take this occasion to assure the Italian Government that the United States Government agrees to limit the exercise of this right in such a way and at such times as not to place, in the judgment of the United States Government, any undue financial burden on the Italian economy.
In addition, I wish to remind the Italian Government that the Surplus Property Act forbids the reimportation into the United States of surplus property if it is in the same or substantially the same form as originally produced unless such property is imported for the purpose of reconditioning for re-export. Therefore, all property transferred under the said Agreement will necessarily be subject to this restriction.
Respectfully yours,
Deputy Central Field Commissioner for Europe