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United States Department of State / Papers relating to the foreign relations of the United States, 1919
(1919)

Nicaragua,   pp. 659-677 PDF (5.8 MB)


Page 668

668
FOREIGN RELATIONS, 1919, VOLUME II
the receipt of a recent telegram from the American Minister at
Managua stating that the Public Credit Commission is willing to
award 9,000 pounds cash and 4,000 pounds bonds. It is added that
this offer is considered better than the suggestion of Minister Young
of 10,000 pounds cash, and that practically 70 per cent of the award
is cash and the remaining 30 per cent bonds. It is also stated that
this is the highest percentage of cash given for this class of claims
and it is asserted that the award is enough to pay claimants for
small sums in cash while it still leaves a substantial amount for the
London bank.
The American Minister reports that the time for acceptance of
awards expires in June.
WASHINGTON, April 26, 1919.
417.41/16
The British Charge (Lindsay) to the Acting Secretary of State
No. 461                           WASHINGTON, June 18, 1919.
SIR: I have the honor to refer to previous correspondence with the
State Department, ending with Mr. Adee's memorandum of April
26th on the subject of certain British claims against the Government
of Nicaragua, notably the so-called "Legation Claim". In this
note it is stated that the Public Credit Commission is willing to
award £9000 cash and £4000 bonds in settlement of this claim.
It is
also known that acceptance of this award must be notified by June
30th in order to ensure its payment.
A reference to previous correspondence especially to the notes from
this Embassy of October 28th 1915,13 and June 29th, 1916,'14 will
remind you that the amount of these claims was settled between the
Nicaraguan Government and His Majesty's Representative to that
country by a formal agreement in 1912 at the sum of £19,800 to be
paid in cash, with accrued interest from that time. The claims were
subjected to a serious scrutiny by His Majesty's Legationand heavily
reduced to make them equitable. They have since then passed be-
fore the Public Credit Commission and it is now proposed to satisfy
claims amounting with accrued interest to over £26,000 by a payment
which, taking the value of the bonds into consideration, is, I under-
stand, equivalent to about £10,500.
Such a proposal cannot appear equitable to His Majesty's Gov-
ernment and I am now instructed by Earl Curzon of Kedleston to
inform you that it is not acceptable. Desirous, however, of effecting
ai settlement of a question which has been pending for so many
18Foreign Relation8, 1915, p. 1118.  "Ante, p. 659.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
'Is Foreign Relatiom, 1915, p. 1118.
14A nte, P. M9*


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