The Under Secretary of State ( Welles ) to the Minister in Haiti ( White )

No. 161

Sir: Reference is made to your despatch no. 263 of July 23, 194135 and to other correspondence exchanged between your Legation and the Department on the new financial relations between Haiti and the [Page 348] United States. There are now enclosed (1) the final draft of the Agreement between Haiti and the United States to replace the Accord of August 7, 1933, and (2) copies of the proposed exchange of notes relating to the members of the Board of the National Bank of the Republic of Haiti and their compensation.36

The terms of the Agreement and of the notes have received the concurrence of the Haitian Minister of Finance, M. Abel Lacroix, and the Haitian Minister to the United States, M. Fernand Dennis. The discussions conducted by the Department with these officials have been most amicable and satisfactory.

The Department requests you to report by telegraph your comments as to the proper rate of compensation for the voting members of the Board of Directors of the reorganized National Bank.

The Department will, as soon as a decision is made, telegraph to you the names of the three proposed American members of the Board. However, it is not anticipated that a decision in this respect will be taken before August 18.

Upon agreement with the Haitian Government on these two matters, and after you have compared the French text, prepared by the Haitian Government, with the English, and are satisfied with the accuracy of the translation, you are authorized, in behalf of this Government, to sign the Agreement, drawn up in both languages, and to exchange the notes in question.

This instruction may be exhibited to the Haitian Foreign Minister as your full powers.

You will please give the Department proper advance notice with regard to the ceremony of the signing and of the publicity which will be given it.

The Department looks forward to a very satisfactory relationship between the Governments of Haiti and the United States under the terms of the new Agreement.

Yours very truly,

Sumner Welles
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