The Acting Secretary of State to President Wilson
It would be most gratifying if a treaty such as is proposed could be negotiated, but even to accomplish this, which would certainly bring much credit to your Administration, as it would be accomplishing the seemingly impossible, it seems to me that we should in no way intimate that a Russian credit loan would be favorably received.
I have avoided the subject in the proposed reply. Does it seem to you that it could be possibly construed as an admission that Count Witte’s mission would be looked upon with favor by this Government?
Very sincerely yours,