TIME
While the immensely complicated French Debt settlement was under consideration in Washington, Secretary Mellon announced the conclusion of a very simple agreement similar in kind—but not in intensity. The Latvian Government owes the U. S. for War supplies, and for relief supplies furnished on credit, the sum of $5,132,287.14To 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.
More Must-Reads from TIME
- How the Electoral College Actually Works
- Your Vote Is Safe
- Mel Robbins Will Make You Do It
- Why Vinegar Is So Good for You
- The Surprising Health Benefits of Pain
- You Don’t Have to Dread the End of Daylight Saving
- The 20 Best Halloween TV Episodes of All Time
- Meet TIME's Newest Class of Next Generation Leaders
Contact us at letters@time.com