Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1921-09-21
MEXICO To GET
AMERICAN HELP
Financial Rehabilitation OF Coun-
try Is Undertaken.
PLAN FOR WORK ANNOUNCED
Thomas w. Lamont Heads Bankers
Committee Which Will Liquidste
External Debt and Place
Country on Its Feet.

Washington, Sept. 14.-Confirmation
Of the plan for financial rehabilitation
of Mexico and liquidation of the eN-
ternal debt through the agency Of
the international bankers committee,
headed by Thomas W. Lamont of
j. T.. Morgan x Co, was officially an
nounced here.
BY a statement released simultane-
Ously in New York and Washington
the early departure of Mr.. Lamont for
Mexico City TO discuss the status of
outstanding foreign obligations Of the
Mexico government" was announced.
Furthermore il was shown that the
State department is cognizant OF the
mission.
Formal Statement.
This formal statement, the first
word on the move which has been OBJ
vious from Mr.. Lamont's recent CON
ferences In Washington with admins
tration leaders aud with the Mexican
charge d'anraires. DIR. Manuel Teller,
read as follows:
THE international committee of
bankers on Mexico has requested it's
acting chairman. Thomas w. Lamont,
TO accept the invitation extended some
time ago by the Mexican government
officials and at his early convenience
20 proceed 10 Mexico for the purpose
of discussing there the status Of the
outstanding foreign obligations of the
Mexican government.
"Mr. Lamont has been asked by the
other sections Of the international COM
mittee, namely the British, French,
Swiss. Dutch and Belgian, 10 represent
their interests during the pending dis
cuSsions In Mexico City. The Depart
ment Of State ar Washington is cog
infant OF the fact that the information
al committees representative will
shortly visit Mexico"
In the ACKNOWLEDGEMENTS circles
the Lamont mission has been taken %
mean just one thing-MeXico's willing
ness TO agree 10 the bankers plan for
financial rehabilitation of the country
across the Rio Grande and removal Of
virtually the last obstacle 90 American
recognition Of the Obregon govern
ment.
1T means that the bankers holding
the Mexican securities or which inter
est has gone so long unpaid will float
the needed loan through which the
country can get back on its financial
feet. thereby making good what they
already hold" was the way one we'll
informed man characterized the situ-
alton.
Americans Biggest Creditors.
II has been generally known that
the Morgan and Speyer houses. Ameri-
can banking firms. holding the bulk Of
the Mexican external debt. have been
willing for months 10 float the new
Mexican loan. However, they have
held out for security in the way of
fiscal agent supervising the utilization
of the new capital of Mexico.
That attitude of the American bank
ing houses has been set forth definite
IN for the administration here I'm the
course of the deliberations over the
recognition Of the ObregOn govern
ment. When Elmer Dover of Seattle,
Wash, close friend Of President Hard
ing, went TO Mexico City recently he
was reported to have started negOtia-
tons along that line.
Though the State department is re-
frainiag from comment on this latest
development. the Lamont mission. II is
plain from the announcement that II
has the sanction Of the government
His going with official government
sanction would strongly indicate gov
eminent belief that the mission consti-
tuted a forward step towards removal
Of objection TO resumption Of relations
between the Two governments.