891.51/93: Telegram

The Secretary of State to the Minister in Iran (Dreyfus)

141. Your 165 February 12, 221 March 1 and 260 March 12. Without passing upon the desirability of a policy of circulating gold coin or bars in Iran the Treasury provided the following information in [Page 573] reply to inquiries in your 165: gold coins are not available in adequate quantities for circulation in Iran; small bars are available or can be made in sizes 10 to 30 troy ounces with standard bar of this type 25 ounces; bars carry United States Mint mark, gross weight and fineness; price of gold for such bars $35 a fine ounce plus one quarter percent and 4 cents per hundred dollars additional; actual costs of handling gold for export are extra; purchase and export would require a license under provisional regulations of the Gold Reserve Act.

Department presumes that copies of draft financial agreement summarized in Department’s 311 [84?], February 16, 9 p.m. have reached or will soon reach Tehran89 and that any proposals which Iran may wish to submit with regard to exportation of gold from the United States will be considered by Millspaugh in relation thereto.

Hull
  1. See footnote 87, p. 569.