Dear Professor Smiddy,

As you have already been advised, Mr. Slattery is leaving today to take up duty with you, and I avail of the opportunity to send you this note by him.

With reference to the Funds issue, the course which you have adopted and the way in which you have handled this whole matter has my very best approval and the Government wish me to convey to you their great satisfaction at the successful way you have guided the whole case.

The Government are also deeply grateful to you for the tactful way in which you have met and defeated the attack made on the Consulate Office in New York by Ginnell and his followers, and they appreciate the great help given you by Mr. Lindsay Crawford.

I understand that Mr. George McGrath and Mr. FitzGerald are in communication with you as to the matter of staff and funds. The Government will be only too pleased to approve of any requirements that you may think necessary for the Washington and New York Offices.

Secret Service: We would like to keep the amount ($6,000.00) advanced to you yesterday within this Financial Year, but we realise you are the best judge of what should be done. $6,000.00 is all we have authority for at the moment.

Currency: The Finance Department here are in agreement with your views that no change in currency can be made just at present. We have now secured for this Department the services of Mr. J. McElligott, late Editor of 'The Statist'. He remarks on Currency that 'The rise in sterling is due to the depreciation in gold, and even if English currency attains parity with the United States dollar, this will not be the same as the restoration of the gold standard in England. The latter will probably yet involve a further period of deflation, with attendant ill-effects, unless gold prices take a turn different to that which they are at present assuming. An appreciation in gold will, of course, mean a fall in gold prices.'

With very best wishes for your continued success in the hard duty before you,