Michael Collins to Timothy A. Smiddy (Washington)

General Instructions for Professor Smiddy

1. To keep himself informed of all circumstances in connection with the Funds in the USA. To do this it will be necessary to go into the loans (Old and New) subscribed in the USA, to see that Bond Certificates have been issued for all the old or first loan and if any of the subscribers have not received Bonds to find out the reason why and if possible to get all things done to have matters put in order; to get an account of all monies subscribed to date with Balance Sheet showing the total of the different Funds subscribed with all the Liabilities at date of the Balance Sheet on one side; and with the Assets set out in detail as well as an account of all 'Remittances Home' and 'Local remittances' on the other.
2. To see that all funds and investments are in the name of the National trustees, viz., Eamon de Valera TD, the Most Rev Dr Fogarty, Bishop of Killaloe, and Alderman Stephen M. O'Mara, Mayor of Limerick. The funds should be deposited in these names in the Federal Banks.
3. To see that the system of furnishing monthly statements to the Minister of Finance is continued and that these statements are supported by vouchers and furnished promptly.
4. That funds to the value of at least $200,000 be always available for transmission on the requisition of the Minister for Finance.
5. To furnish the Minister of Finance with the exact position regarding the second loan. 6. To make himself acquainted with the system of keeping the Reserve Funds Accounts, Refunds and recoverable outlay.