Papers Relating to the Foreign Relations of the United States, Transmitted to Congress, With the Annual Message of the President, December 9, 1891

Mr. Egan to Mr. Blaine.

Legation of the United States,
Santiago, September 10, 1891. (Received November 13.)

No. 199.]

Sir: Since the access to power of the new Government there has been considerable discussion as to whether it should recognize liability for the three issues of paper money made by the late Government, amounting; in all to about twenty millions of pesos, the first twelve millions of which was issued at the special solicitation of the leading banks of the country.

Finally, it has been decided by the Provisional Government to recognize those issues, and this wise step will do much to restore commercial stability and public confidence.

I have, etc.,

Patrick Egan.