Page:United States Statutes at Large Volume 62 Part 3.djvu/1379

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. francs will be purchased by the Government of Belgium against dol- lars at the rate at which they were acquired by such finance officers. Yours sincerely, The Belgian Ambassador SILVERCRIuys The Honorable JOSEPH J. O'CONNE-z, Acting Secretary of the Treasury, Washington, D. C. The Acting Secretary of the Treasury to the Belgian Ambassador THE SECRETARY OF THE TREASURY WASHINGTON SEPTEBER 24, 1946 MY DEAR M.i AMBASSADOR: Reference is made to your letter to me of September 24, 1946, regard- ing the repurchase of Belgian francs acquired by finance officers of the United States Armed Forces in accordance with the provisions of Ante, p.3998 paragraph 1 of the Memorandum of Agreement between the Govern- ment of the United States of America and the Government of Belgium regarding the Purchase of Belgian Francs for Use by the United States Armed Forces, executed in Washington on September 24, 1946. It is the understanding of the United States Government that in the event of a devaluation of the Belgian franc, the two Governments will cooperate to effect the necessary adjustments expeditiously. In order to prepare for such an eventuality it will be the policy of the United States Government to provide to the Belgian Government rele- vant information regarding the Belgian franc disbursements and holdings of the military establishment in Belgium. It is the intention of the United States Armed Forces to advise you quarterly through a United States Treasury representative of the amount of francs dis- bursed for the procurement of goods and services and of the amount of francs reported as in the accounts of Army finance officers. It is our understanding that the obligation of the Belgian Govern- ment to repurchase, at the rate of purchase, Belgian francs tendered by the United States Armed Forces shall be limited to the Belgian francs in official United States Armed Forces accounts, and francs held by quasi-official organizations in and under the military establish- ment. I am pleased to advise you that under new procedures established by the United States Armed Forces in the European Theater of Oper- ations on the 16th of September, 1946 the United States Armed Forces are no longer accepting Belgian francs from authorized personnel for their accommodation, except in exceptional cases resulting from the change in procedures and orders. Very truly yours, JosEPH J O'CONNELL Jr Acting Secretary of the Treasury His Excellency THE AMBASSADOR OF BELOIUM Washington, D. 0. 4000

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