The Secretary of State to the Ambassador in Colombia (Braden)

No. 1275

The Secretary of State encloses for the information of the Ambassador and the files of the Embassy, a memorandum of conversation of January 27, 194294 between officers of the Department and Dr. Fernando Salazar, representative of the Agricultural Mortgage Bank of Colombia. It will be noted that Dr. Salazar felt that it would embarrass the Minister of Finance for the Ambassador to approach him concerning the settlement of the defaulted bonds of the Agricultural Mortgage Bank. Since Dr. Salazar felt that the initiative in these discussions should come from the Minister rather than from the Ambassador, no discussion should be undertaken without the previous approval of the Department. However, if the Minister of Finance brings the matter up the Ambassador is fully at liberty to discuss it.

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