Dear Mr. Thomas,¹

You will remember that I wrote to you on the 4th July of last year² confirming what I had already told you in conversation, namely, that the sums received from the Land Annuities and other charges were being set aside by the Irish Free State Government in separate Suspense Accounts in anticipation of arbitration.

My Government now consider that no useful purpose can be served by the further retention of these monies in the Suspense Accounts. They have, therefore, decided to use them to finance normal Exchequer requirements and they desire me to inform you accordingly.