File No. 839.51/957.
The Secretary of State to the American Minister.
Washington, February 19, 1913.
The Department assumes that advance has already been made of $300,000 under the terms indicated in Department’s December 18. If the Dominican Government anticipates the need of an additional advance before the conclusion of the loan, the Department hereby consents thereto, if not in excess of $200,000 and if under the terms recited in Department’s December 18, to be refunded out of the proceeds of the permanent loan.
In regard to the protest of the National Bank of Santo Domingo, you are informed that the Department has concluded its study of the matter and has no observations to offer to the Dominican Government. Jarvis has been informed that both proposals seem to be within the legal requirements, and that the initial adoption of a loan contract to be submitted for this Government’s consent, and acceptance of the proposal most advantageous to the Dominican Government, are matters for that Government’s determination, and the Department does not feel called upon to interfere as between rival American bidders.
The Department is uncertain whether or not your February 13 means that the National City Bank proposal has been finally and irrevocably accepted. If it has been so accepted and when the Department has been so advised, it will promptly inform you of a minor change respecting procedure which it has to suggest as preliminary to its consent. Meantime cable text of preamble.