No. 289 NAI TSCH/3/S14205
Memorandum to Government by the Department of External Affairs
'Sale of Russian Jewels'
Dublin, 6 March 1949
- The question has arisen of the disposal of the Russian jewels given to Mr. de Valera by the Soviet Envoy in New York in 1920 as security for a loan of $20,000.1
- The jewels have been valued by a leading firm of London jewellers and also by Christies. The former valued them at about £2,000 and the latter at £1,600. The Minister for Finance is now considering having the jewels sold by Christies in the ordinary course of business without disclosure of their origin or of the Irish Government's interest in the transaction.
- In this connection, the Minister for Finance has raised the question whether or not the jewels should be disposed of without prior notice being given to the Soviet Government. The Minister for External Affairs does not consider it absolutely necessary to inform the Soviet Government beforehand. On the other hand, he would see no strong objection to the Soviet Government being told in advance, through their Ambassador in London, and being given an opportunity of redeeming the pledge by repaying the amount of the original advance ($20,000) without interest. Considering that, however slight the chances of recovering the full amount of the original advance may appear to be, they should at least be explored, the Minister for External Affairs is inclined to favour the latter alternative; but he would be glad to have the views of the Government on the matter.
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