61 STAT.] HAITI-FINANCES--JLY 4, 1947 3099 immediately upon receipt of such proceeds by the Government of the Republic of Haiti and this representative will have said proceeds converted into dollars of the United States of America as promptly as possible and will have the amount transferred to the fiscal agent of the loans. In order further to ensure the redemption of said bonds and certificates of interest by October 1, 1947, my Govern- ment will confer upon the fiscal agent of the loans irrevocable power to have notice of the redemption of said bonds issued, in the name of my Government, in the prescribed manner, and will obtain from the National Bank of the Republic of Haiti and remit to your Govern- ment and to the fiscal agent, before the first publication of such re- demption notice, the undertaking of the said Bank that, by October 1 or before, the fiscal agent will have on deposit, in trust for the re- demption of said bonds and certificates of interest on the said date a sum of United States dollars (in funds immediately available in the city of New York) sufficient for their redemption. In this connection, I refer Your Excellency to the second paragraph of Article 7 of the Executive Agreement of September 13, 1941, 55Stat. 135. which provides that, until the complete amortization of all the bonds of the foreign debt of 1922-23 of the Government of Haiti, the public debt of the Republic of Haiti shall not be increased except upon previous agreement between the Governments of the United States of America and the Republic of Haiti. I should appreciate it if Your Excellency would confirm what my Government believes, namely that the Government of the United States sees no objection to the floating of the internal loan and that, when the redemption notices for said bonds in Series A and C and certificates of interest in Series C bonds shall have been issued in conformity with the loan contracts and when sufficient funds for their redemption shall have been deposited in the hands of the fiscal agent in trust for the redemption of said bonds and certificates of interest by October 1, 1947, as provided for above, the Government of the United States will consider that the conditions stipulated in the second paragraph of Article 11 of the Agreement of September 13, 1941 5" Stat 13'5 7 - will have been fulfilled. I have the honor to inform Your Excellency that my Government will consider this note together with your note in reply containing the approval of your Government as constituting an agreement between our two Governments in the above terms, in relation to the proposed Haitian internal loan and the redemption of the foreign bonds of 1922 and 1923 in circulation and of the certificates of interest. Please accept, Mr. Ambassador, the assurance of my high con- sideration. ED TH MIANIGAT AV His Excellency Mr. HAROLD H. TITTMXAN, Ambassador Extraordinary and Plenipotentiary oj the United States of America, Port-au-Prince.
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