Mr. Adams to Mr. Seward
Sir: A few days ago a gentleman by the name of W. W. Holmes requested an interview with me for a purpose which I will now proceed to explain:
He said that he was an agent for the Mexican bondholders in London, and in that capacity he wished to consult me in regard to the possibility of entering into some negotiation with the government at Washington on this subject. I replied that the subject of Mexico had not been brought within my province, at least, since the first year I came to this country. I was entirely unable, therefore, to speak with authority in answer to his question. So far as I could venture to give my private impression of the policy of my government, it was that they did not incline to depart from the rule of non-intervention in the affairs of Mexico which had been laid down at the beginning of the war.
Mr. Holmes went on to state his case, which was substantially this: The English bondholders held claims upon Mexico for a very considerable sum of money, which had been secured to them, under the sanction of both governments, by setting apart for the payment of the interest and principal a considerable proportion of the net receipts accruing from the custom-houses on the Atlantic side, and the whole of those accruing from the Pacific side. I understood him to say that these receipts had been regularly paid over to them for a period coming down to about 18 months ago, since which they had not obtained anything. They had also had secured to them large tracts of territory in the province of Sonora, and, perhaps, another province. It had occurred to him that in any negotiations which the United States might have with Mexico, it might not prove disadvantageous to the latter if they should first possess themselves by a complete cession from the bondholders of all these securities guaranteed to them under the sanction of these treaties. I replied I could give no opinion on that subject, and still less any encouragement to the idea of such a purchase. He asked if I had any objection to make a communication of this proposal to my government. I said I should be willing to report the conversation as a matter of intelligence, without in any way officially committing myself to the bondholders as favoring the proposal.
I have the honor to be, sir, your obedient servant,
Hon. William H. Seward, Secretary of State, Washington, D. C.