A COEPTANCE

The Right Honorable
Sir Avckranp Geppnes, G.C.M.G., K.C.B,,
Ambassador Extraordinary and Plenipotentiary,
The British Embassy,
Washington, D.C.

My Dear MR. AMBASSADOR,
I have the honor to acknowledge the receipt of your note of the
18th June, 1923, transmitting the proposal dated the 18th day of June,
1923, by His Britannic Majesty’s Government to the Government
of the United States of America regarding the funding of the
debt of Great Britain to the United States. This proposal is agreeable
bo the World War Foreign Debt Commission, and I am writing for the
Oommission and by its authority to advise you that the proposal is hereby
accepted on behalf of the United States of America, pursuant to the
authority conferred by the Act of Congress approved February 9, 1922,
as amended by the Act of Congress approved February 28, 1923.
In accordance therewith I am writing to ask that bonds as contemplated
thereby may be delivered as soon as possible to the Secretary of the
Treasury of the United States in exchange for the demand obligations
amounting to $4.074.818.358.44 now held by him. which are otherwise
now pavable.

Verv trulv vours.

A. W. MEernLon.
Secretary of the Treasury and Chairman of the
World War Foreian Debt Commission.

Approved

Warren GG. Harbpixng.

Presiden

June 19, 1923.

(41782) Wt 1200—R17 16000 7/93 H. &t (IR