839.51/2852: Telegram

The Minister in the Dominican Republic (Young) to the Secretary of State


95. Referring to my telegram No. 91, October 30, 1 p.m. I have made a further and exhaustive study of the matter, and I have found no reason to modify in any particular the suggestion set forth in my telegram No. 91 unless there be added the stated condition that the purposes and amounts cannot be changed after the Department has approved the loan, without its acquiescence.

I respectfully submit the following comments:

The loan project is not based on political exigencies, though the party in power will naturally be favorably affected by the employment that will be provided.
Minor criticisms may be made, but on the whole the program accords with the needs of the country.
To guard against improper influences the loan of authorization will set forth both the purposes and the amounts.
It is the unanimous opinion of bankers and businessmen that $10,000,000 loan will have, very favorable effect upon economic conditions. General Receiver of Customs is strongly of this opinion.
I have been unable to find in any quarter here any suggestion that political conditions would be adversely affected.
Personal opinion of General Receiver of Customs is that loan should be unconditionally approved.