Memorandum by the Assistant Secretary of State (Welles)

Mr. Gilson called to see me two days ago and in his conversation said that he felt it was desirable not to suggest any change in the existing arrangement between the Government of Salvador and the bondholders until after the next Presidential elections had taken place. I said that, in general, I concurred in his opinion, but stated that I did not wish to make any definite statement in the matter until after receipt of the requested report from the American Legation in San Salvador. I further said that I would let him know when the report had been received and have a further conference with him.

S[umner] W[elles]