File No. 812.516/195

Ambassador Fletcher to the Secretary of State

No. 505

Sir: With reference to the Embassy’s recent telegrams and despatches to the Department on the subject of a loan for the establishment of the Sole Bank of Issue provided for in Article 28 of the Mexican Constitution, I have the honor to report that President Carranza has issued a decree fixing April 1, 1918, as the date on which this bank will begin operations, with a capital of not less than five million pesos, and prescribing the manner in which contributions to this capital from the public at large shall be received and accounted for. The text and translation of this decree will be forwarded as soon as it is published in the Diario Oficial.

I have [etc.]

Henry P. Fletcher