890F.515/40: Telegram
The Minister Resident in Saudi Arabia (Moose) to the Secretary of State
[Received 4:05 p.m.]
122. My 117, September 9, 7 p.m. British Minister finally left Jidda for Riyadh this morning taking with him a draft law prepared some time ago for the emission of paper currency in Saudi Arabia and he intends to discuss matter with King. The plan does not contemplate the establishment of a bank. British Minister can hardly arrive at Riyadh before evening September 15 and probably any discussions on subject would take place a day or two after his arrival.
In view of the penultimate paragraph of the Department’s 41, August 3, 9 p.m., Department may wish me to suggest to the King through Hamid Suleiman, Acting Minister of Finance and brother of Abdullah Suleiman, or other available high official, that no definite commitment be made with regard to paper currency before completion of the formalities connected with lease-lending of silver to Saudi Arabia.
Repeated to Cairo.