711.1928/508

The Fiscal Agent of the Republic of Panama ( Cromwell ) to the Secretary of State

Dear Sir: I beg to acknowledge herewith your letter of February 26, 1936 (“BA” 711.1928/) addressed to me, as Fiscal Agent of the Republic of Panama, and enclosing a copy of the Comptroller General’s Settlement Certificate No. 0391039, dated February 26, 1936, check on the Treasurer of the United States, No. 48,769, dated February 26, 1936, to my order as Fiscal Agent of the Republic of Panama, for $250,000 “in settlement of the annuity due the Republic of Panama on February 26, 1936, under Treaty of November 18, 1903”, and a form of receipt therefor.

This form of receipt contains the statement that the aforementioned check is “in full payment of the annuity due the Republic of Panama February 26, 1936”, etc.

I beg to acknowledge your communication and to advise you that the Republic of Panama maintains the position that under the terms of the above mentioned Treaty, the Annuity should be paid in gold coin like that existing in 1904. Consequently, and in view of the aforementioned advice from the Government of Panama that it does not consider that the payment in question constitutes payment in full of the said Treaty Annuity, I, as such Fiscal Agent, consider that I cannot and do not accept the check as tendered and am returning the check herewith.

Respectfully yours,

Wm. Nelson Cromwell