While the immensely complicated French Debt settlement was under consideration in Washington, Secretary Mellon announced the conclusion of a very simple agreement similar in kindbut not in intensity. The Latvian Government owes the U. S. for War supplies, and for relief supplies furnished on credit, the sum of $5,132,287.14 To this is added interest amounting to $647,275.62. The Latvian Government agreed to pay $4,562.76 immediately, thereby making the indebtedness a round $5,775,000.
By this agreement signed last week, Latvia has the option of paying this off in semi-annual cash payments from 1926 to 1930.
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