Foreign Relations 12

71st Congress,
3d Session
House Document
No. 825, Vol. III

Papers Relating to the
Foreign Relations
of the
United States
(In Three Volumes)
Volume III
United States
Government Printing Office Washington: 1945





The Acting Secretary of State to Mr. Nelson Stuart, Assistant Trust Officer of the National City Bank of New York

Washington, January 30, 1930.

  SIR: I acknowledge receipt of your letter of January 27,(36) addressed to Mr. J.P. Moffitt (37) of the State Department, quoting a cable from the Financial Adviser (38) that he is recommending Mr. McCaskey, Acting Financial Adviser. It is understood that Mr. McCaskey, who was formerly Supervisor of Internal Revenue, is at present Supervisor of Customs in Liberia.
  Article 8 of the Loan Agreement (40) provides for the nomination of the Financial Adviser by the President of the United States but there is no provision as to the appointment of an Acting Financial Adviser during the former’s absence on leave. The Department would be pleased therefore to learn whether you consider it necessary to have Financial Adviser nominated by the President. In the case of Mr. Bussell (41) who was commissioned in 1928 Acting Financial by the President of Liberia, (42) during the absence of Mr, De la Rue, (43) the Financial Adviser at that time, the formality of a nomination by the President of the United States was not followed.
  Should it be deemed necessary formally to nominate Mr. McCaskey, I would be pleased to receive biographic data to submit as is customary to the President should he be recommended.

Very truly yours, For the Acting Secretary of State:
Prentiss Gilbert


Mr. Nelson Stuart, Assistant Trust Officer of the National City Bank of New York, to the Secretary of State

New York, February 6, 1930.

SIR: Receipt is acknowledged of your letter of January 30 with reference to our letter of January 27 (36) in which we quoted a cable

(35) For previous correspondence, see Foreign Relations, 1928, vol. III, pp.240 ff.
(36) Not printed.
(37) James P. Moffitt of the Division of Western European Affairs.
(38) John Loomis.
(39) Charles I. McCaskey.
(40) See Foreign Relations, 1926, vol. ii, pp. 574, 579.
(41) Conrad T. Bussell.
(42) See Foreign Relations, 1928, vol. III, p. 246.
(43) Sidney de la Rue.


received from Mr. John Loomis, Financial Adviser to the Republic of Liberia under the Loan Agreement dated September 1, 1928 [1926].
  There does not appear to be any provision in the Agreement as to the appointment of an Acting Financial Adviser during the absence of the Financial Adviser. The importance of a proper appointment in such a case from our position as Fiscal Agent is found in the last paragraph of Article XI, providing that funds in the hands of the Fiscal Agent shall only be expended upon the request of the Secretary of Treasury of the Republic of Liberia, certified and approved in manner and form satisfactory to the Fiscal Agent by the Financial Adviser. In the present instance the appointment of Mr. McCaskey would be satisfactory to us but we feel that a confirmation to Mr. Loomis on the part of the State Department would tend to strengthen his official status as the Acting Financial Adviser and would establish a precedent to be followed in future cases.
  We have no knowledge as to the recommendation of Mr. McCaskey for the position of Acting Financial Adviser, other than contained in the cable from the Financial Adviser quoted in our letter of January 27.
  As requested in your letter, we are pleased to enclose herewith such biographic data concerning Mr. McCaskey(46) as we find in our files.

Very truly yours, Nelson Stuart


The Acting Secretary of State to the Charg’e in Liberia (Carter)

WASHINGTON, February 13, 1930–4 P.M.

  16. Your 9, January 16, 3 p. m. (46) Department has received letter from the National City Bank stating that Loomis will recommend McCaskey as Acting Financial Adviser. Upon receipt of formal recommendation from Financial Adviser and if you believe McCaskey is satisfactory to the President of Liberia notify the Liberian Government that his appointment is approved by this Government. The Liberian Government will doubtlessly issue as in the case of Bussell. Refer to your diplomatic despatch No. 33 of February 15, 1928 (47)

(46) Not printed.
(47) Despatch not printed; for its enclosure, see Foreign Relations, 1928, vol III, p. 246.


882.51a/112: Telegram

The Charge’ in Liberia (Carter) to the Secretary of State

Monrovia, March 12 1930–noon.
[Received 8:25 p.m.]

  33. Department’s 16, February 13, 4 p.m. McCaskey commissioned Acting Financial Adviser yesterday by President of Liberia. Loomis left March 8 via Spain and Cuba for his home at Strasburg, Virginia, where he will spend his leave of absence. (48)
  In correspondence with the Liberian Government relating to McCaskey’s nomination, Barclay (49) a took exception to our position that Acting Financial Adviser should be nominated by the President of the United States but stated that in the view of the Liberian Government the next in command (in this case McCaskey) should, in the absence of the Financial Adviser, become Acting Financial Adviser. As the issue appeared to be somewhat academic, I did not insist upon acceptance at this time of our view but merely informed Barclay that I was mailing copies of the correspondence to the Department. (50)


(48) John Loomis returned to Monrovia on September 6, 1930.
(49) Edwin Barclay, Liberian Secretary of State.
(50) Not printed.

Informer's Comment:
Well, all this wheeling and dealing occurred when? What was the crash of 1929 about? Wasn’t people put out of jobs because there was no money? Well if there was no money where is this all coming from in 1930? Can you see the set up for FDR to help the banking cartel when the people started demanding all their money they had put into the banks, stocks of the J.P. Morgan and Getty, Rockefeller, and Firestone organizations such as the United States Trading Company bank? FDR bailed out the banks when the banks had squandered all the people’s money. Remember that in 1921 the real Treasury of the United States was abolished and the Private Federal Reserve Board became the fiscal agents of the United States. In 8 short years they plundered the people’s money in all these overseas deals by loaning money of the people, and now the people have to pay for the squandering of the fiscal agent of Congress. Congress abdicated its' lawful position when eliminating the true Independent Treasury of America. Rockefeller owned the Chicago Bank and would lose all his holdings if a run was allowed on the banks; and, FDR was his Bar buddy besides, so he protected him buy Executive Order 2039. That is why the BANKS, and not the Congress, rewrote and changed the original statute of the Trading with the Enemy Act to make the American the "Enemy" of the banks. This proposed law, written by the Federal Reserve Board, was entered by FDR without any additions or deletions whatsoever. We are not the enemy of the United States but the enemy of the banks; that is why FDR declared the emergency banking holiday, so he could license all the banks so they could trade with the American enemy (the people of America.). This will become very evident when I include those portions of the Hoover Papers from January 1932 to March 4, 1933, later on in this series.