816.51/11–2544

The President of the Foreign Bondholders Protective Council, Inc. (Munro), to the Adviser, Office of Economic Affairs (Livesey)

Dear Fred: I am sending you for your information a copy of a letter which we received some time ago from Lord Bessborough and a copy of my reply.7 You may wish to have this for the Department’s files.

I am sorry to hear that the situation in El Salvador looks rather discouraging at present. I hope, however, that any administration which finally comes into power there will not be permitted simply to throw out the debt settlement. It seems to us that the same considerations which led the Department to make such effective representations before the present negotiations started would lead it to insist that the new government go through with them, and it would be pretty hard for any new government to disregard the Department’s views.

With best wishes,

Dana G. Munro
  1. Neither printed; this correspondence with the President of the British Council of Foreign Bondholders related to that Council’s objections to the abolition of the charge on customs revenue as security for Salvadoran bonds (816.51/11–2544).