Memorandum of the Chief of the Division of Mexican Affairs (Long) to the Assistant Secretary of State (Phillips)
Dear Mr. Phillips: When Ambassador Fletcher was here on his last trip28 the matter of organizing an International Committee of Bankers was discussed with Mr. Polk and Mr. Fletcher. Mr. Fletcher was to sound the Mexican Government and report its attitude with respect to the organization of such a Committee.
Before Mr. Fletcher could do so, a British banker, Mr. Honey, endeavored to negotiate certain financial transactions with Carranza, the up-shot being that Fletcher thought it more expedient not to sound Carranza with respect to the formation of the International Committee of Bankers.
From what Mr. Martin Egan told me I assume that certain pressure from Great Britain and France caused American bankers to take the initiative, and the International Committee of Bankers was formed.
I handled the Departmental end of the matter until Mr. Fletcher arrived. My last word on the subject was that neither the Department [Page 648] nor the interested bankers were to make public the details regarding the formation of the committee.
Mr. Fletcher has not kept me advised of developments. Mr. Egan has been here once or twice since my last interview with him and the ban on publicity may have been lifted.
The statement contained in The Post of this morning is substantially correct as to representation—10 Americans, 5 British, 5 French. AmMission, Paris, was informed of this in a cable sent about a week ago through the office of Mr. Winslow.30