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Foreign Relations of the United States

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United States Department of State / Papers relating to the foreign relations of the United States, 1920

Liberia,   pp. 49-128 PDF (28.0 MB)

Page 51

The Secretary of State to the National City Bank
WASHINGTON, February 13, 1920.
GENTLEMEN: The receipt of your letter of January 22, 1920, is
acknowledged and I note with pleasure that you consent to act in
the capacity of fiscal agent in the United States for the Republic
of Liberia.
You inquire regarding the securing the preliminary approval o-
this Department or the Treasury Department before making dis
bursements in this connection. In reply you are advised that it i;
desired that this Department be given an opportunity, before each
disbursement is made by your Bank as fiscal agent for Liberia, to
express its objection in case any should exist.
I am [etc.]
For the Secretary of State:
Second Assistant Secretary
882.51/1072 Telegram
The Minister in Liberia (Johnson) to the Secretary of State
MONROVIA, Feb)Nary 28, 1 920-8 a. an.
[Received 9: 13 p.m.]
25. Act of January 22, 1919,5 passed at the instance of Depart-
ment, to authorize President of Liberia to accept proffered loan
credit of $5,000,000 from the Government of the United States and
to enter into such agreements et cetera as would make credit effec-
tive has been amended by joint resolution making it necessary that
any agreements which President of Liberia may execute to render
loan credit available shall be submitted to the Legislature for ap-
proval. Legation understands President has assented to demand
of Legislature to be called in extra session to consider and approve
such agreements and conditions as may be required of Liberia to
release loan credit, if proposed financial plan reached here during
recess of Legislature. Legation informed that amendment above
mentioned was drafted and passed without reference to Financial
Aside from needless expense extra session of Legislature would
cause, no one can foretell what it would do if again assembled.
'For text of this act, see Foreign Relations, 1919, vol. II, p. 466.

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