Gambar halaman
PDF
ePub

the purpose of making possible the completion of the work required for the settlement of the refugees. You refer to the Legation's previous communication of July 24, 1923, in which, as contemplated in the Financial Agreement of February 1918, inquiry was made whether the assent of the United States Government would be given to the pledging of further security by Greece for the purpose of raising the loan.

In its reply of August 7, 1923, the Department, as you point out, stated that it was desirous of seeing the exigency as to the work of relief in the Near East properly met and that the question raised in your letter had received and would receive the most careful and sympathetic consideration.

In your communication of October 9, under acknowledgment, you raise again, on behalf of your Government, the question of the consent of this Government to the pledging by Greece of security which will make it possible to raise the contemplated loan. You also enumerate certain suggested modifications of the Protocol of Geneva of September 29, 1923, relative to the loan. These modifications concern the guarantees to be given by the Greek Government and provide that the total amount authorized should be ten million pounds sterling.

I wish to point out in reply that the view of this Government as indicated in the letter of August 7, 1923, referred to above, has not undergone any change. The Department of State is in entire sympathy with the object to which it is contemplated the proceeds of the loan will be put. This Government will therefore place no impediment in the way of the Greek Government's furnishing security for the loan now contemplated for the purpose of refugee relief.

It should be understood, however, that the consent which this Government hereby gives relates only to the pledging of the security specifically mentioned in the note of October 9 for the purpose of floating the refugee relief loan which you have described. This Government should not therefore be understood to have acquiesced in the view set forth in the paragraph of your note, which reads as follows:

"The Greek Government retains the right to mortgage any surplus from the revenues or the surplus of revenues assigned to this loan, in excess of the amount necessary for its service. The Greek Goverument pledges itself not to inortgage other revenues, except those assigned to the refugees loan, without the advice of the International Financial Commission."

It should also be understood that the present consent by the Government of the United States is given with full reservation of all questions with respect to the agreement of February 1918. CHARLES E. HUGHES

Accept [etc.]

868.51Refugee Loan, 1924/54

Speyer & Co. to the Secretary of State

NEW YORK, December 12, 1924.
[Received December 13.]

SIR: Referring to the Department's request that American bankers furnish information regarding loans that they may be negotiating with foreign governments, we beg to submit the following concerning the loan to the Greek Government, for participation in which we are in negotiation:

The Greek Government proposes to issue $11,000,000 principal amount of its Forty-Year 7% Secured Sinking Fund Gold Bonds, being part of an International Loan known as the Refugee Loan of 1924, of an authorized amount of approximately £12,500,000 (to yield the Greek Government, say, £10,000,000). Of the Bonds constituting this loan, £7,500,000 principal amount have been sold, through public subscription, in London by Hambros Bank, Limited, and £2,500,000 principal amount are being offered in Greece by a group of banks, headed by the National Bank of Greece. Of the proposed Dollar issue, it is expected that $5,000,000 will be placed in London and the balance in the United States.

The purpose of this loan is to provide funds for the reestablishment in Greece of Greeks who lived in Turkey and who, in accordance with the Treaty of Peace with that country, are returned to Greece.

The entire loan will be issued under the auspices of the League of Nations.

We enclose a preliminary descriptive circular 39 and trust that the Department will agree with us in believing that the participation of American bankers and the American public in this loan will be in harmony with the policy of our Government, to encourage our people to assist in the rehabilitation of European countries.

We call your attention to the fact that the amount of the Dollar issue has been increased to $11,000,000 principal amount from $10,000,000, which was the amount in contemplation when our Mr. Millhauser communicated with Dr. Young over the telephone yesterday.

Respectfully yours,

SPEYER & Co.

39 Not printed.

868.51Refugee Loan, 1924/54

The Secretary of State to Speyer & Co.

WASHINGTON, December 18, 1924. SIRS: I beg to acknowledge the receipt of your letter of December 12, 1924, and its enclosure, regarding your interest in a proposed issue of $11,000,000 principal amount of the 40-Year, 7%, Secured Sinking Fund Gold Bonds of the Greek Refugee Loan of 1924 for the purposes and under the terms set forth in your letter under acknowledgment, of which it is contemplated that $6,000,000 will be placed in the United States.

I take pleasure in confirming the statement made to a representative of your firm by a representative of this Department over the telephone that, in the light of the information before it, the Department of State offers no objection to the flotation of the above-mentioned sum of $6,000,000 in the American market.

I am [etc.]

For the Secretary of State:

LELAND HARRISON
Assistant Secretary

GUATEMALA

EXCHANGE OF NOTES BETWEEN THE UNITED STATES AND GUATEMALA ACCORDING MUTUAL UNCONDITIONAL MOST-FAVOREDNATION TREATMENT IN CUSTOMS MATTERS

611.1431/28a

The Acting Secretary of State to the Guatemalan Minister (Latour)

WASHINGTON, August 14, 1924.

SIR: I have the honor to make the following statement of my understanding of the agreement reached through recent conversations held at Washington by representatives of the Government of the United States and the Government of the Republic of Guatemala with reference to the treatment which the United States shall accord to the commerce of Guatemala and which Guatemala shall accord to the commerce of the United States.

These conversations have disclosed a mutual understanding between the two Governments which is that, in respect to import, export and other duties and charges affecting commerce, as well as in respect to transit, warehousing and other facilities, the United States will accord to Guatemala and Guatemala will accord to the United States, its territories and possessions unconditional most-favorednation treatment.

It is understood that

No higher or other duties shall be imposed on the importation into or disposition in the United States, its territories or possessions of any articles the produce or manufacture of Guatemala than are or shall be payable on like articles the produce or manufacture of any foreign country;

No higher or other duties shall be imposed on the importation into or disposition in Guatemala of any articles the produce or manufacture of the United States, its territories or possessions than are or shall be payable on like articles the produce or manufacture of any foreign country;

Similarly, no higher or other duties shall be imposed in the United States, its territories or possessions or in Guatemala on the exportation of any articles to the other, or to any territory or possession of the other, than are payable on the exportation of like articles to any foreign country;

Every concession with respect to any duty or charge affecting commerce now accorded or that may hereafter be accorded by the United States or by Guatemala, by law, proclamation, decree or commercial

treaty or agreement, to the products of any third country will become immediately applicable without request and without compensation to the commerce of Guatemala and of the United States, its territories and possessions, respectively:

Provided that this understanding does not relate to

(1) The treatment which the United States accords or may hereafter accord to the commerce of Cuba or any of the territories or possessions of the United States or the Panama Canal Zone, or to the treatment which is or may hereafter be accorded to the commerce of the United States with any of its territories or possessions or to the commerce of its territories or possessions with one another;

(2) The treatment which Guatemala may accord to the commerce of Costa Rica, Honduras, Nicaragua and/or El Salvador;

(3) Prohibitions or restrictions of a sanitary character or designed to protect human, animal or plant life or regulations for the enforcement of police or revenue laws.

The present arrangement shall become operative on the day of signature and, unless sooner terminated by mutual agreement, shall continue in force until thirty days after notice of its termination shall have been given by either party; but should either party be prevented by future action of its legislature from carrying out the terms of this arrangement, the obligations thereof shall thereupon lapse.

I shall be glad to have your confirmation of the accord thus reached.

Accept [etc.]

611.1431/33

JOSEPH C. GREW

The Guatemalan Minister (Latour) to the Acting Secretary of State

WASHINGTON, August 14, 1924.

EXCELLENCY: I have the honour to acknowledge the receipt of Your Excellency's esteemed note of the 14th. day of August, 1924, containing a statement of Your Excellency's understanding of the agreement reached through recent conversations held at Washington by representatives of the Government of the United States and the Government of Guatemala with reference to the treatment which the United States shall accord to the commerce of Guatemala and which Guatemala shall accord to the commerce of the United States. These conversations have disclosed a mutual understanding between the two Governments which is that, in respect to import, export and other duties and charges affecting commerce, as well as in respect to transit, warehousing and other facilities, the United States will accord to Guatemala and Guatemala will accord to the United States its territories and possessions unconditional mostfavored-nation treatment.

10884 Vol. II-39-25

« SebelumnyaLanjutkan »