Text Version

receive poorer treatment than investors of other
countries, and would be called upon to protest any such
discrimination. The spectacle of having not only to
accept losses but to perceive payments to investors of
other nationalities at their expense would arouse
immediate resentment among the numerous American investors.
As regards further statements of Foreign Office
transmitted in your 112, if the German Government wishes
to put forward proposals for an agreed on reduction of
interest on its external indebtedness, this Government 
is convinced that the Council of Foreign Bondholders, 
which has been representing the American holders of
German securities, would give consideration to such 
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