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2A a conference held in the office of the governor on Thursday, October 11, at three p.m., l_tt.S14.1;T: .arburg, presiding, lir.,Llbert Strauss, representin,; the Treasury Department, gr..dachincloss, representing the State Department, .1r. Henry braere, of the imerican ietals Jompany, 1.1r. Lilliam 1.oeb, of the -merican Smelting and Aefining Jompany, 1,1r. illis, Secretary. Discussion began at the conference held this morning in the office of 41ssistant Secretary tiowe with respect to the gold re4uireTents of the leL.ican government, was continued, and informal agreement was arrived at with reference to a plan for releasing gold sufficient to meet these requirements, it being understood that at the same time the 1,:exican government would alter or suspend the provisions of its recent decree relating to the exportation of gold and silver. to transmit to the ,,merican It was agreed mbassador ,t the nty of I.:e;,:dco the substance of a memorandum embodying this agreement as follows: "In order to conserve the national gold supply, the ?ederal deserve 3oard has found it necessary to refuse a.A?lications for exi.ort of gold even to friendly 4,- neutrals, where distinctly ':rlerican trade Was involved. "At the request of the State Department the Board has made an exception in dealing with idexico and has, since this re,jaest was made by the State Deabout a week ago, licensed exportations of ;old to :dexico to an extent of upwards of .17,000,000, v.aich pending applications will probably within a day or two increase to ,6,000,000 or more. a matter of general policy the Board has made no effort to retain silver, but has permitted its unrestricted export. In view, however, of Lexico's particular conditions, which have been explained to as, and their desire to dispose of silver against gold, the Board has made an exception also in this respect and the Treasury, with which the Board is co-operating in all these matters, has today authorized the U. S. mint to negotiate for a purchase from or sale for Mexico of 6,000,000 pesos of silver, to be paid for to gexico in ;old. "Further, the Board is favorably disposed to facilitate such sales of ::.exican silver through the United States in the future. . "The Board is also favorably disposed to allow the export of gold to :dexico for all purposes, including aovernment and commercial, as follows: Darin; the month of November not exceeding ,A,000,000; and for each of the four following months, not e.i.ceedinL, „i;L,500,000; the total daring October not to exceed 41J,000,000, including a]plicationc already granted. "Tae adoption of this friendly policy and tne arrangements so far made are predicated upon the following steps to be taken by idexico; which steps we are advised the :dexican qovernment is favorably inclined to take. "(1) Mexico to repeal that part of its recent decree which compels exporters of ores to give bond for the re-importation of an amount of gold equal to the gold content of the exported ore; "(2) zaso to repeal that portion which compels exporters to give bond for the re-importation of an amount of gold equal to 25:.; of the value of the silver content of the exported ore; "(3) Mexico to repeal the embargo on the export of gold to the United States, but to maintain and rigidly enforce the embargo on the export of gold to all other. countries; "(4) Mexico to maintain that part of the decree whereby American gold is accepted at par in payment Of customs duties, taxes and other amounts due to the Mexican Government." att 4 p. m. the conference adjourned. ...41(x-2..40wL4 Secretary. ehai.rmn. 7
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