File No. 861.51/495c
The Acting Secretary of State to the Secretary of the Treasury (Glass)
My Dear Mr. Secretary: There has been considerable correspondence between the Treasury and the State Department on the question of payment of interest on the Russian obligations held by the United States amounting to about $187,000,000.
In view of the confused conditions which now exist in Russia, and of the political conditions involved, I should like very much to confer with you on the general subject, especially as to the question of deferring for the present, the collection of interest due on Russian obligations held by this Government on and after November 15, 1918. I should also like to discuss with you the question of making available to the Russian authorities in this country, the funds which fall due [Page 56] to them from time to time, such as for example, the charter hire of Russian ships in the service of the Shipping Board.
Some decision will also have to be reached as to what action we should acquiesce in relative to the interest payable on $50,000,000 credit advanced to the Russian Government by the National City Bank of New York.
I am [etc.]