The Ambassador in Cuba ( Guggenheim ) to the Secretary of State
[Received 5:35 p.m.]
21. Department’s 9, March 14, noon. In connection with inquiry concerning possibility of moratorium on foreign debts the Department will be interested to know that President Machado sent a message to Congress yesterday requesting enactment of legislation to establish a partial moratorium on private debts by suspending for 2 years amortization and interest payments on mortgages of railroads, sugar mills and farm lands and limiting to 5 percent per annum the interest to be paid during that period on mortgages covering city properties.