814.51/307a: Telegram

The Acting Secretary of State to the Chargé in Guatemala ( Thurston )

When opportunity presents ascertain from President Estrada what progress has been made in translation and publication of Professor Kemmerer’s report. Tell him that copy was furnished to Department unofficially and for its confidential information and that Department is in sympathy with general plan of report and will be glad to aid in putting plan into effect if its aid is desired. It is believed that establishment of national bank representing Guatemalan interests and several foreign groups doing business in Guatemala would be very desirable if practicable.

Confidential. Department desires to receive permission from President Estrada to show report to various American interests in order to sound them with regard to possibility of their participating in proposed national bank. It desires to take this action immediately since the present is believed to be the most favorable time for inaugurating a currency reform and since it is felt that Guatemala as well as the Department would be glad to be able to report definite accomplishment at approaching Pan-American Financial Conference.11 It would be preferable that President Estrada should of his own initiative request Department to approach American bankers and you are instructed to endeavor to obtain such a request rather than to ask permission on behalf of Department to approach these bankers. Also if practicable ascertain discreetly without raising question directly President’s attitude toward various American interests which might participate in bank. Department desires also your own opinion in regard to this last matter and in regard to general situation.