Az Eszterházy Károly Tanárképző Főiskola Tudományos Közleményei. 1994. [Vol. 2.] Eger Journal of American Studies. (Acta Academiae Paedagogicae Agriensis : Nova series ; Tom. 22)

STUDIES - Tamás Magyarics: The (Re) creation of the Relations between the US and the Successor States in Central Europe after the First World War

Nevertheless, the Americans had to move in unison with the European powers and had to abandon the "they hired the money, didn't they?"

— approach to the finnacial troubles of Europe when Austria went bankrupt It was, among other nations, the U.S. that took the initiative in suspending the claims against Austria,

6 which resulted in the protocols of Geneva in October 1922. It placed the finances of Austria under the control of the League of Nations; Austria was freed from any reparation payments until 1942.

7 Next year the Americans took a step further. Secretary of State Hughes indicated to the American Minister in Austria on July 19, 1923 that the U.S. was "prepared to negotiate with the Austrian Government a general treaty of amity, commerce and consular rights,"

8 which offer was promptly accepted by the Austrians.

9 The proposed treaty, unlike that of August 24, 1921, embodied "no attempt whatever to attain ... undue advantages over a friendly state..." according to Hughes

1

0 and the most-favored-nation clause, or, as it should more aptly be named the "equally-favored (or not)-clause", was incorporated in the Draft Treaty of Friendship, Commerce and Consular Rights between the U.S. and Austria.

1

1 Later, as a result of negotiations taken place between June 25 and July 4 in 1925 between the two countries, an Informal Agreement for Continuation of Reciprocal MostFavored-Nation Treatment in Customs Matters was reached.

1

2 6 See Papers, 1922, Vol. 1, 613—621. 7 "... be it resolved by the Senate and House of Representatives of the U.S.A. in Congress assembled That the Secretary of the Treasury is hereby authorized to extend, for a period not to exceed twenty-five years, the time for payment of the principal and interest of the debt incurred by Austria ...", April 6, 1922 (SJ. Res. 160), Pub. Res. No. 46, Statutes of the United States of America (Second Session of the 67th Congress), 1921—1922, Washington: Government Printing Office, 1922, Public Laws, 491—2. 8 Hughes to Washburn on July 19, 1923. Papers, 1923, Vol. 1, 398, 711.632/7a: Telegram. 9 Washburn indicated on July 23 that the Austrian "Foreign Office is prepared immediately to negotiate ...", Papers, 1923, Vol. 1, 398, 711.632/8: Telegram. 1

0 711.632/8a, No. 579, Washington, August 3, 1923. Papers, 1923, Vol. 1. 399. 1

1 Article VII. See the Draft Treaty in Papers, 1923, Vol. 1, 400—413. 1

2 Papers, 1925, Vol. 1, 516—17. 80