DEPARTMENT OF STATE DIVISION OF LATIN AMERICAN AFFAIRS. participation in Nicaraguan affairs has imposed upon us the obligation of trying to bring about an electoral reform which will make it possible to place in office a government acceptable to the majority of the people. Our influence should also be exercised to persuade the Government to maintain a stable currency for the credit of the Republic and to use any loans obtained from American so far as may be necessary bankers for this purpose. ITicaragua is at present OF THE QCHIVES endeavoring to obtain from American bankers a loan for the construction of a railway to the Atlantic coast and the Government has sought the good offices of the state Department in floating such a loan.
In assisting in this matter the state Department naturally assumes some obligation to make sure that the construction of the railway will not prove a financial burden which will imperil the country financial stability and that the route selected and the manner in which the money is spent are both calculated to produce the best results.
In Costa Rica the Government has recently been endeavoring to obtain a loan in the United States and has asked the aid of the State Department.
If we are able to aid Costa Rica in obtaining funds we should, if possible, insist that a portion of the fund be used for the