Mr. Bunau-Varilla to Mr. Hay.
Washington, December 10, 1903.
Sir: I think it is necessary, in view of the ratification of the canal treaty by the Government of the Republic of Panama, and in view of the steps taken by his excellency the President of the United States for the ratification by the Government of the United States, to inform you of the name of the banking house that has been designated to be the financial agents of the Republic of Panama in the United States.
I have, therefore, the honor, sir, to notify you and through you his excellency the Secretary of the Treasury, that by letter dated November 17, 1903, and in virtue of the full power given me by my Government in fiscal questions, I have named the firm J. P. Morgan & Co. the financial agents of the Republic of Panama for one year, with the full and exclusive power to collect for the account of the Republic of Panama any sum the Government of the United States may have to pay the Republic of Panama for any cause whatsoever.
It goes without saying that the Government of the Republic of Panama will notify the Government of the United States in due time, and previously to the collection by Messrs. J. P. Morgan & Co., the amount that the Government of the Republic intends to withdraw from the United States Treasury on the sums placed to its disposition according to the conventions in force.
I am, etc.,