838.516/142
The National City Bank of New York to the Secretary of State
[Received July 19 (?).]
Sir: Referring to the negotiations for the purchase by this Institution of the Banque Nationale de la Republique d’Haiti and to the Contract existing between the Government of Haiti and the Banque Nationale de la Republique d’Haiti, and to the consent of the Government of Haiti to the transfer of said Contract to a new bank of identical name and of Haitian nationality, we wish to advise you that in response to a cable which we sent to our Representative in Haiti on the 12th of July asking to be informed of the reason for the continued delay in receiving from the Haitian Government its consent to the transfer, we have just received his cabled answer, copy of which is enclosed herewith for your information.60
You will recall that some time ago, in the discussions which occurred in February last at the State Department in Washington concerning certain modifications of the Contract between the Government of Haiti and the Banque Nationale de la Republique d’Haiti, we, as prospective purchasers of the Banque Nationale de la Republique d’Haiti, were requested by the State Department on behalf of the Haitian people, to agree to certain modifications of the Bank [Page 822] Contract which you felt would be in the interests of Haiti and its people, and we did so agree, with the understanding that no further changes in the Contract would be requested of us.
It would appear from the cable (copy enclosed) received today by us that the Haitian Government is proposing additional amendments with the result of further delaying its consent to the transfer. This delay is very prejudicial to all interests, particularly in respect of our carrying out our obligations to the French owners of the Bank and in the prompt establishment in the Bank and its branches in Haiti of improved methods in the conduct of its business.
To overcome this situation we wish to propose to you that we proceed forthwith to conclude the final details of the purchase of the Banque Nationale de la Republique d’Haiti, taking over the Contract between that Bank and the Government of Haiti in its present form with the understanding that so soon as the consent of the Government of Haiti is obtained to the transfer of the Contract to the new Bank, we will simultaneously accept and consider operative as a part of the Contract, the modifications of the Contract to which we agreed in the conferences held in your Department in Washington February and March last. This arrangement would permit us to deal with certain embarrassments in completing the purchase of the Bank caused by the present delay of the approval of the Government of Haiti.
Will you be good enough, Mr. Secretary, to give our suggestion your consideration and if it meets with your approval we will be glad to be so informed at your early convenience in order that we may promptly take the steps with the French owners to complete the purchase of the Banque.
We are [etc.]
By
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