819.51/287a: Telegram
The Secretary of State to the Minister in Panama ( Price )
5. Following telegram shown Department by International Banking Corporation agent in Washington:
“To the National City Company. Please advise immediately Mr. Jerome J. Wilbur following message from International Banking Corporation.
‘Panama telegraphs President without consulting fiscal agent or Secretary of Treasury has today returned our offer re renewal depository contract to the latter with statement that time has arrived for government to support with its deposits its own national bank and instructing that arrangement be made to transfer account on June 30th. Secretary of Treasury says he wm resign. Public opinion except politicians strongly against change. Prominent Panama merchants friendly to government privately stated willing to subscribe difference in salary desired by agent to retain him here. American Minister says he has done all he can. General belief is President would not renew contract at same salary without curtailing agents powers. Recommend you urge Department intervene.’
International Banking Corporation.”
Department desires verification of above reports and to know Fiscal Agent’s views on advisability of transfer of funds alluded to in them.