Mr. Seward to Mr. Plumb.
Sir: In your dispatch No. 87, elsewhere acknowledged, you have alluded to the financial proceedings, called by the name of auctions, which have been adopted by the Mexican government for the purpose of purchasing in portions of the consolidated foreign debt of that country. However objectionable the policy of these measures may be, it does not appear that the United States are specially called upon to protest against it, insomuch as no portion of the consolidated debt thus dealt with was contracted to this government or citizens of the United States. In view of this fact, you raise the question whether the proceeding [Page 447] is not unequal, by giving preference, so far as the consolidated debt is concerned, to other foreign creditors over United States, creditors, whose claims have not yet been established. Such a position would seem ungracious, and it could hardly be assumed without bringing into the question the friendly feelings of the United States towards the republic of Mexico. We are looking forward to a time, not distant, when we can propose a convention for the mutual adjustment and settlement of claims between citizens of the United States and citizens of Mexico. It has not yet been thought expedient to press the subject hitherto, insomuch as the United States themselves, in view of the derangement of political and financial affairs which was produced by our late civil war, have until now declined to enter into negotiations with any foreign states for adjusting claims for indemnity of their subjects growing out of the transactions of the war.
I am, sir, your obedient servant,
Edward L. Plumb, Esq., &c., &c., &c.