462.00R296/5114
The Secretary of the Treasury (Mellon) to the Secretary of State
My Dear Mr. Secretary: I have Assistant Secretary White’s letter (EA 462.00R296/5095) of September 15, 1931,19 enclosing two letters and copies of translations thereof, dated September 11, 1931, from the German Ambassador,19 giving notice to the United States that the payments due September 30, 1931, and March 31, 1932, on account of the awards of the Mixed Claims Commission, United States and Germany, and on account of the costs of the American Army of Occupation, as specified under paragraphs 1 (a) and (b), respectively, of the debt funding agreement between the Governments of the German Reich and the United States, dated June 23, 1930, will be postponed in accordance with paragraph 5 of that agreement.
I shall appreciate it if you will be good enough to advise the German Ambassador that the Treasury of the United States takes due notice of his Government’s action in this connection, and that the ninety days’ advance notice required under the agreement is hereby [Page 293] waived with respect to the payment due September 30, 1931. You may also advise the Ambassador that the Treasury will recommend to the Congress that authority be granted to the Secretary of the Treasury to postpone the payments due during the year July 1, 1931 to June 30, 1932, on account of Army costs, and to execute an agreement for their repayment over a period of ten years beginning July 1, 1933.
Very truly yours,