File No. 837.51/310
The Minister in Cuba (
Gonzales) to
the Secretary of State
No. 630
Habana,
May 9, 1918.
Sir: I have the honor to transmit herewith
in duplicate translation of note No. 417, dated May 8, 1918, from
the Cuban Secretary of State, in regard to the loan of $15,000,000.
This note is in answer to the Department’s telegraphic instructions
of April 5, 6 p.m., and April 20, 6 p.m., and a résumé of which was in my telegram of May 9, 11 a.m.1
I have [etc.]
[Enclosure—Translation]
The Cuban Subsecretary of State
(
Patterson) to the American Chargé in Cuba (
Scholle)
No. 417
Habana,
May 8, 1918.
Mr. Chargé d’affaires: In connection
with the plenipotentiary powers conferred by the President of
the Republic upon the Minister of Cuba in Washington for
contracting a loan with the Government of the United States of
America, I have the honor to inform you that the Secretary of
the Treasury makes the following statement in a communication to
this Department dated May 6:
In reply to your communication of the 16th ultimo
transcribing a note from the Chargé d’Affaires of the
United States of America dated the 15th, relative to the
powers conferred by the President of the Republic upon
the Minister of Cuba in Washington for contracting a
loan with the Government of that Nation.
The powers conferred upon the Minister of Cuba in
Washington by presidential decree of March 13, 1918,
were delegated by the authority of the President of the
Republic in accordance with Article 68, Section 1, of
the Constitution of the Republic of Cuba in connection
with the act of the Cuban Congress of July 31, 1917. The
President having been authorized by that act to issue
bonds in the sum of $30,000,000 under terms therein
prescribed; authorized likewise to sell or hypothecate
said bonds for the purposes mentioned in the law; it is
evident that he may issue such decrees as he shall deem
necessary to execute said law or cause it to be
executed, and consequently that he may empower the
Minister of Cuba in Washington to negotiate a loan not
to exceed $15,000,000 with the Government of the United
States and to receive moneys tendered him on account of
said loan, giving in guarantee or hypothecating bonds of
Series A authorized by the aforesaid law of July 31,
1917; no further ratification being necessary, for the
transaction is consummated by the delivery of the money
and the receipts issued by the Treasurer of the Republic
as (partial) sums are received from the Government of
the United States on account of the loan.
I renew [etc.]
G. Patterson
Subsecretary.
