File No. 817.51/704.
Minister Jefferson to the Secretary of State.
Managua, October 24, 1914.
Sir: Referring to my telegrams of September 10 and September 23, I have the honor to inform you, with regard to the contemplated action of the Nicaraguan General Assembly suspending the payment of debts, and interest on loans, both foreign and domestic, for a period of four months, that a law suspending the payment of domestic obligations has been passed by the Senate on October 8 and by the Chamber of Deputies on October 20, receiving the signature of the President the same day.
A second bill, suspending for four months from October 1, 1914, the payment of interest on the foreign debt and other liens secured by the Customs revenues, and devoting those revenues during that period to the general expenses of the Republic, has been passed by the Senate and the Chamber of Deputies on October 7 and 8 respectively and sent to the President, but has not yet received his signature, the matter awaiting, I believe, the completion of some new arrangement with the bankers.
I have [etc.]