File No. 861.51/426
The Chargé in Russia (Poole) to the Secretary of State
[Received December 5, 1.43 a.m.]
631. Continuing my 586, November 18, 7 p.m. British and north Russian provisional government have definitely agreed on fundamental [Page 93] articles for new currency issue, not different essentially from the summary telegraphed under No. 587. Four millions have been issued to expeditionary force which will use them for the payment of the soldiers. It is intended to continue for the present payment of laborers in old rubles; no loan to provisional government has been arranged as yet.
Referring to the second paragraph of my telegram No. 586, Chaikovski tells me British Government did not consent to insertion of limit in fundamental articles, but that he has a letter from Lindley recognizing temporary character of the measures taken, and promising that no objection will be made to a limitation in the future, should government policy seem to require it.
At a meeting with Diplomatic Corps last evening, the President and the Minister of Finance promised to cease further emissions of so-called treasury [notes] which the provisional government has put out to the amount of 35,000,000 without specific security or real subscription and made legal tender; they were also impressed with the necessity of providing for the retirement of at least part of these notes at due date, February 15 next. Request for an account of governmental expenditures to date and budget for the future insistently renewed.
More complete report on British financial project follows by mail.