860c.516/21: Telegram

The Chargé in Poland (White) to the Secretary of State

260. Department’s unnumbered telegram [191], May 4, 5 p.m. Minister for Foreign Affairs has stated in an informal conversation that he is on the point of concluding contract with Guaranty Trust Company governing the question of remittances from America to Poland. He states that he would first submit proposition to Legation for transmission to the Department for its approval as he was not sure what would be American Government’s attitude toward virtual monopoly which this contract accords. Will report to the Department. Further stated that his order closing other American banks44 only issued after strong pressure from American Express Company.

  1. The Secretary had been informed by the Chargé in telegram no. 229 of Apr. 19, 1920, that “In accordance new banking law … representatives nine American banks and forwarding agencies ordered April 15th liquidate in thirty days.” (File no. 860c.516/13.)