Memorandum from Secretary of the Treasury Fred Vinson to President Harry S. Truman, with Attachments
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MEMORANDUM RELATING TO SHIPPING CLAIMS
The Government of the United States of America and the Provisional
Government of the French Republic during the course of their negotiations
on a lend-lease settlement have discussed all mutual shipping problems
and shipping claims arising out of the acquisiton, operation and dis-
position of French vessels under the control of the United States of
America during the period from December 7, 1941 to May 1, 1946, and
have agreed as follows:
1. In full and complete satisfaction of any and all claims and
financial obligations of one government against the other arising out
of the requisition, use, repair, damage, loss, operation and redelivery
of French vessels, the Government of the United States of America will
deposit a sum of 17.5 million dollars with the United States Maritime
Commission on behalf of the Provisional Government of the French
Republic, which sum shall be applied against the purchase by the Pro-
visional Government of the French Republic of up to 75 Liberty ships
from the United States Maritime Commission under the terms of the
Ship Sales Act, 1946.
a. This sum will be applied by the United States Maritime
Commission first to the down payment of the statutory sales
price of the vessels at the time of their delivery as required
by the Maritime Commission under its regulations; and secondly,
any excess of funds remaining after the said down payment will
be applied as payments on interest and annual installments as
they become payable towards the amortization of the unpaid
balance to the extent that such excess of funds are available.
b. The price and other terms of sale shall be mutually
determined by the United States Maritime Commission and the
Provisional Government of the French Republic in accordance
with the Ship Sales Act of 1946.
C. The Provisional Government of the French Republic may
make application for the purchase of additional ships from the
United States Maritime Commission.
2. All financial claims of one government against the other
arising out of the loss of French vessels or their cargoes while
said vessels were under the control of the Government of the United
States of America are hereby waived.
ARCHIVES s. SERVICE" RECORDS AND
INATIONAL
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"ocrText": "COPY\nMEMORANDUM RELATING TO SHIPPING CLAIMS\nThe Government of the United States of America and the Provisional\nGovernment of the French Republic during the course of their negotiations\non a lend-lease settlement have discussed all mutual shipping problems\nand shipping claims arising out of the acquisiton, operation and dis-\nposition of French vessels under the control of the United States of\nAmerica during the period from December 7, 1941 to May 1, 1946, and\nhave agreed as follows:\n1. In full and complete satisfaction of any and all claims and\nfinancial obligations of one government against the other arising out\nof the requisition, use, repair, damage, loss, operation and redelivery\nof French vessels, the Government of the United States of America will\ndeposit a sum of 17.5 million dollars with the United States Maritime\nCommission on behalf of the Provisional Government of the French\nRepublic, which sum shall be applied against the purchase by the Pro-\nvisional Government of the French Republic of up to 75 Liberty ships\nfrom the United States Maritime Commission under the terms of the\nShip Sales Act, 1946.\na. This sum will be applied by the United States Maritime\nCommission first to the down payment of the statutory sales\nprice of the vessels at the time of their delivery as required\nby the Maritime Commission under its regulations; and secondly,\nany excess of funds remaining after the said down payment will\nbe applied as payments on interest and annual installments as\nthey become payable towards the amortization of the unpaid\nbalance to the extent that such excess of funds are available.\nb. The price and other terms of sale shall be mutually\ndetermined by the United States Maritime Commission and the\nProvisional Government of the French Republic in accordance\nwith the Ship Sales Act of 1946.\nC. The Provisional Government of the French Republic may\nmake application for the purchase of additional ships from the\nUnited States Maritime Commission.\n2. All financial claims of one government against the other\narising out of the loss of French vessels or their cargoes while\nsaid vessels were under the control of the Government of the United\nStates of America are hereby waived.\nARCHIVES s. SERVICE\" RECORDS AND\nINATIONAL"
}