837.51/1546: Telegram

The Ambassador in Cuba (Guggenheim) to the Secretary of State

19. My telegram No. 18, March 15, 6 p.m. Publicity campaign advocating moratorium on foreign debt payments increasing and appears to have derived encouragement from a rumor given prominence in local press that the President of the United States is favorably disposed thereto.

Secretary of Finance is quoted as having told newspaper reporters yesterday that although no decision has been taken in the matter the Government is not deaf to the opinions being expressed by the business and industrial elements in the country.

It may be regarded as significant in this connection that there now appears to be a tightening of opposition in Congress to proposed reduction of next year’s budget to $37,000,000.

Guggenheim