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  4. Document 551

819.51/306

The Secretary of State to the Minister in Panama ( Price )

Washington , June 1, 1921 .
No. 804

Sir: The Department refers to your cables No. 103, May 16, 9 a.m. and 107, May 18, 9 a.m., relative to the transfer of Government funds from the International Banking Corporation to the National Bank of Panama, and notes your report that President Porras had declared to you that road funds now deposited with the International Banking Corporation would be maintained with this Bank as in the past. The Department will be pleased to learn that the statement by President Porras, referred to above, is to be considered as an expression of his Government’s desire to continue depositing, with the International Banking Corporation, the funds to be applied to road building which will accrue in the future.

I am [etc.]

For the secretary of state:
Henry P. Fletcher