862.51/2857
Memorandum by the Office of the Under Secretary of State (Cotton)
[Washington,] March 25, 1930.
The following was dictated over the telephone by Mr. Spencer Phenix20 who said that the statement has been approved by Schacht and will be used at the time the loan is signed, if it is signed:
“Proceeds of discount of the match loan as received by the Government will be used to reduce current debts.”
- Of Lee, Higginson & Co.↩