The Acting Secretary of State to J. P. Morgan and Company26

Gentlemen: I acknowledge the receipt of your letters of November 18 and December 13, 1918. Both letters relate to the formation of an International Committee of Bankers, to be guided by leading American houses, which should work in conjunction with British and French representatives, for the purpose of protecting the interests of their nationals in the Mexican situation. It is understood that Americans would retain the direction of the proposed Committee, which would comprise substantial international groups designed to represent practically all of Mexico’s creditors and capable of dealing with the situation as a whole.

In reply I have to advise you that the Department is not in a position to object to the formation of such a committee, and that [Page 647] Ambassador Fletcher recently stated that he considered it inadvisable to broach the subject to President Carranza.

I am [etc.]

Frank L. Polk
  1. Marginal note on signed original reads: “After this letter was signed, but before it could be sent out, Mr. Polk orally conveyed to Mr. Martin Egan [of J. P. Morgan and Co.] his approval of the organization of the Committee, and I held this letter up, with Mr. Polk’s permission, because it was deemed to be preferable to let his oral assurances stand. Bo[az] L[ong].”