814.51/309: Telegram

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

Department’s October 25, 6 P.M. and your October 30, noon,13 and November 3, 3 P.M. Department considers it very desirable that plans for currency reform should be discussed by Guatemalan group committee of Pan-American Financial Conference, and that Professor Kemmerer’s report should be available for use of committee and to show to banking interests which might be interested in proposed national bank. If you have not as yet secured President Estrada’s consent, endeavor to obtain his approval of release of report for confidential use in this manner. Minister Mendez has not yet informed Department that Guatemalan Government wished Department to make such use of report as appeared desirable. Point out to President Estrada that currency situation which is the one outstanding detrimental factor in Guatemala’s economic situation will necessarily be discussed at the Pan-American conference and that it would be very desirable to lay before the conference this comprehensive plan of reform and also to show that Guatemala is taking steps to remedy the currency situation. While the Guatemalan Government will doubtless wish to modify certain features of Professor Kemmerer’s plan the plan would appear to afford an excellent and practicable basis for effecting the reform with a minimum of expense and inconvenience and for securing a sound and workable currency system.

  1. Legation’s Oct. 30, noon, not printed.