800.51W89 Hungary/90
The Hungarian Chargé (De Végh) to the Secretary of State
Sir: I have been instructed by my Government to advise the Government of the United States that in view of Hungary’s continued unfavorable economic situation, the Hungarian Government regrets exceedingly that it will be unable to pay the $28,260.08 representing the semi-annual interest due on June 15, 1933, under the Funding Agreement of April 25, 1924.9
However, in accordance with the provisions of the Hungarian Article of Law II of 1933, the Hungarian Government on June 15th will deposit a Hungarian Treasury Certificate in the pengö equivalent of the above sum, bearing interest at four per centum, to the “Foreign Creditors’ Account” at the Hungarian National Bank.
In bringing the foregoing to your attention, I have the honor to renew to you the assurances of my highest consideration.
- Combined Annual Reports of the World War Foreign Debt Commission, 1922–1926, p. 132.↩