Professor Edwin Walter Kemmerer to President Manuel Estrada Cabrera
Honored Sir: Commissioned by you in June of this year to make a study of the present currency system of Guatemala and to report to you such reform measures as I might consider desirable, I have the honor to submit to you the accompanying report.
The report is necessarily largely limited to the broader phases of the subject. Details will need to be worked out as the reform work progresses, and in the light of the experience gained in that work. If the reform is undertaken and the Guatemalan Government so desires, the writer will be glad to render the Government any assistance in his power in working out further details.
During his two months residence in Guatemala the writer has received most hearty and painstaking cooperation on the part of government officials, bankers and business men. The number who have so cooperated is so large that it is impracticable to mention names. For the assistance rendered by all these gentlemen the writer wishes to express his hearty appreciation. The assistance rendered by three persons however has been so great and so continuous that the writer cannot refrain from specifically expressing his appreciation for their cooperation. They are His Excellency Señor Guillermo Aguirre, Minister of Hacienda and Public Credit; Señor Federico Sanchez de Tajada, Chief of the Protocol; and the writer’s own secretary, Dr. John H. Williams, Assistant Professor of Economics in Princeton University, whose broad economic training and knowledge of Latin America have been invaluable to the writer in his work.
With appreciation, Mr. President, of your own most helpful cooperation, and of the many courtesies you have extended to me during my stay in Guatemala,
I am [etc.]
- A single copy of this report in English was in the hands of Department officials on or before Oct. 14, 1919; mimeographed copies were available in Jan., 1920. No publication, either in English or in Spanish, was made until early in 1921, when a Spanish translation was published serially in the Diario de Centro-America (File No. 814.51/326).↩