The Alternate Chairman of the International Committee of Bankers on Mexico ( Lamont ) to the Under Secretary of State ( Davis )
[Received September 29.]
Dear Mr. Davis: Simply as a memorandum to you, I call your attention to this letter-head, indicating the make-up of the International Committee of Bankers on Mexico.53 This gives the American, French and British Groups. Since these were organized we have, with the approval of the Department of State, added a representative of the Dutch and Swiss interests. You will remember that this Committee was organized with the approval of the Department and the idea of it was that it would be an omnibus committee not for the purpose of attending to every investment interest in Mexico but rather to act as a steering committee. You will recall that the Department laid down the rule that its policy in the working of the committee must prevail.
It is manifest that if the general situation of Mexico with reference to her outside creditors is to be discussed, then this Committee is the proper medium for such discussion. When it comes to the question of any particular interest, like the railroads, oil or what-not, then the idea was that special committees could be made up from the outside with, however, a member of the International Committee of Bankers on Mexico on each such committee to act as a binder.[Page 231]
So many suggestions are now being made to send missions to Mexico that it seems to us that if any one is to be sent, this International Committee should preeminently be represented. The Carranza Government, bad as it was, announced its satisfaction, you may remember, with the appointment of this Committee.
In this connection you may be interested in reading the enclosed confidential copy of minutes of a meeting of the British Group recently held.54