[Enclosure—Translation]
The Haitian Minister for Finance (Léger) to the Fiscal Representative of Haiti
(De la
Rue)
Port-au-Prince, April 19,
1938.
Mr. Fiscal Representative: It is becoming
evident that it is no longer possible to hope that in the immediate
future there will be an appreciable improvement in the economic and
financial situation of the Republic of Haiti.
On the contrary, it is to be anticipated that the present low price
of coffee will persist, at least during next year, and that in
consequence the receipts from its exportation will be approximately
the same for the next as for the current budget.
In these circumstances, the Government finds it necessary to
negotiate with the American Government a new Accord for the service
of the amortization of the external loan.
I should, therefore, be obliged to you if you would be good enough to
go to New York in order to commence preliminary conversations to
this end, notably with the Foreign Bondholders Protective
Council.
I will communicate to you at a later date if the Government believes
it is necessary to negotiate an accord similar to that which was
signed on January 13, 1938, only for the fiscal year 1938–1939, or
if it considers the new accord should cover a period of two
years.
I wish to invite your attention to the fact that it will be
impossible for me to draw up and have voted a budget for the period
1938–1939 so long as a new accord for the amortization for the debt
shall not have been concluded.
Accept [etc.]
