Papers relating to the foreign relations of the United States, 1929, Volume III

868.51 Public Works/32: Telegram

The Secretary of State to the Ambassador in Great Britain ( Houghton )

[Paraphrase]

Washington , March 8, 1929—6 p.m.

44. Reference Department’s 30, February 12, 5 p.m.; your 32, February 13, 4 p.m., and your despatch No. 3398, February 26.⁸

Assistant Secretary Castle on February 16 discussed orally with the British Commercial Counselor the question of the International Financial Commission servicing the Seligman loan.

You should renew previous inquiries at the British Foreign Office and with British Treasury officials, telegraphing results to the Department. If a suitable opportunity presents itself, you may point out orally that the reasons given for the attitude of the British and French Ministers in Greece are not by any means clear unless it is to be decided not to permit the International Financial Commission henceforth to undertake servicing any new Greek loan of any kind whatever. It is true that the Commission was set up for a special purpose in 1898,⁹ but since then it has assumed the service of 8 or 9 loans which were not contemplated by the original agreement.

Kellogg

8. Latter two not printed.
9. See convention between Great Britain, France, Greece, and Russia, to facilitate the conclusion of a loan by the Greek Government, signed at Paris, March 29, 1898, British and Foreign State Papers, vol. xc, p. 27.