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REFUSINGTO SUPPORT U.S. MONOPOLIES IN ECUADOR
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WILSON, WOODROW. Typed Letter Signed, to his former Secretary of State
Bainbridge Colby, expressing discomfort with his proposal concerning monopolies in
Ecuador, recalling instances during his own presidency in which U.S. financiers exploited
Latin American governments, and declining to support his plans. 2 pages, 4to, personal sta-
tionery, written on the first and third pages of a folded sheet; horizontal fold. With the
original envelope. (TFC)
Washington, 10 June 1922
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“
. . . I should feel very unhappy to have any part in fixing on the people of Ecquador [sic] the pro-
posed monopolies, and a glimpse or two which I had in the past of the dealings of our financiers with
regard to the Guayaquil and Quito railways make me unwilling to give them any further control in
that quarter. It seems to me moreover highly dangerous and undesirable to give any of our bankers the
practical unlimited control over the financial administration of the country which the Ecquadorian
Government foolishly proposes to offer them.
“
This memorandum reminds me of the many instances of similar dealings with Latin America to
which my attention was called while I was in office. . . .
“
. . . [W]hen the inevitable pinch comes and the consequences ensue which were certainly to have been
anticipated the bankers resort to the State Department to have the screws put upon the hapless govern-
ment. . . .
“
Frankly, my dear Colby, I am not willing to have my name associated with this transaction. . . .”