837.516/64: Telegram

The Minister in Cuba (Long) to the Secretary of State

65. Radical articles in local press attacking banks here have served further to undermine confidence already severely shaken as a result of Banco Nacional closing its doors Saturday.

Seriousness of permitting such press campaign to continue was brought to the attention President Menocal April 11, 4 p.m. April 12, 3 p.m., he received press and explained the impropriety of articles derogatory to banks which were actually aiding Cuban sugar producers. All press men except La Discusion showed disposition to refrain from exciting public. Discusion said its attitude would be modified gradually but comes out today with indiscreet article announcing Government intercession. President Menocal states that he will take drastic measures against Discusion should it continue to annoy banks. The Diario De La Marina and the Havana Post published temperate articles showing proper spirit.

Having been in constant touch with Royal and National City Banks’ local managers whose principals are in New York City respectfully suggest advisability of conveying to Beatty and Farnham now in New York indication that local press attacks on banks will be discontinued.