819.51/289: Telegram
The Secretary of State to the Minister in Panama ( Price )
9. Your 7, January 28, 10 a.m., and 10, February 2, 2 p.m.
Inform Ruan that Department would be pleased to learn that he would reconsider his decision to resign. In view of your report, however, Department is giving serious consideration to question of appointment of successor to Ruan in case his decision is irrevocable and desires that you inform President that in view of the special relations existing between the Governments of the United States and Panama, the Department has been highly gratified at the admirable showing made in Panaman finances during the past year as a result of the Fiscal Agent’s cooperation. Also call to President’s attention that Fiscal Agent was appointed after the best interests of Panama were considered jointly by the Governments of the United States and Panama and that therefore the Department presumes that Panaman Government will wish to consider the recommendation of a Fiscal Agent, to be submitted soon, in the same spirit of cooperation which it manifested when Mr. Ruan was appointed. The financial straits in which the Government of Panama found itself immediately before the appointment of Mr. Ruan and the present excellent condition of the Panaman Treasury are ample evidence of the value of this position. You may inform President Porras that the Department has several men in view and will submit the name of the one who appears best qualified.
Department also hopes that President Porras will give due consideration to the Fiscal Agent’s views on the transfer of funds referred to in your cable. Please cable Department a statement of the ownership and standing of the Banco Nacional.