William Jennings Bryan to Thaddeus A. Thomson

We cannot make proposition of preferential privileges without first knowing what Colombia desires and we cannot suggest new boundary line without first consulting Panama.
We are willing to submit a formal proposition of fifteen millions or, if necessary, twenty millions, in full settlement of all difficulties, without any mention of either special privileges or change of boundary. Colombia could then reply that she would accept a certain sum, fixing it at whatever she pleased, but the lower the better, provided she were given privileges which she would specify and provided also the boundary line be fixed at a certain point. We could then consider her proposition and have a basis upon which to confer with Panama; but it would be worse than useless to raise the question of a new boundary line with Panama unless we knew that there was a possibility of settling the other terms of the agreement. Please communicate with the President and see whether he would submit a counter proposition in reply to a money offer or fifteen or twenty millions.