File No. 812.512/335.
Consul Miller to the Secretary of State.
Tampico, July 12, 1914.
Companies will have no difficulty to secure New York exchange, in fact all remittances to Tampico offices are by New York exchange but the difficulty may be to arrive at agreement with authorities as to what prevailing rate really is in local transactions. Rate of July 11 ranged from 325 to 352 but local rate may be governed somewhat by local conditions, production taxes must be paid by July 15. Probably would be fair to take the New York rate of July 13 on Carrancista currency, and have arrangements made to have said rate wired to local custom house and consulate said date and at stated intervals thereafter.