Telegram from Francis B. Loomis to William W. Russell
Acting Secretary of State Loomis announces the United States government’s decision to decline modification of its agreement to pay $10 million to the Panamanian government. As such, the government has made a payment of over $9 million to J. P. Morgan & Co. for the account of the Republic of Panama. Loomis adds that the United States government expects that at least $8 million of this fund “should be safely invested to secure the stability of Panama’s finances” as Panama’s representative had claimed prior to the ratification of the treaty.
Collection
Library of Congress Manuscript Division
Creation Date
1904-05-19
