We intend to begin on the first of February unrestricted submarine warfare. We shall endeavor in spite of this to keep the United
States of America neutral. In the event of this not succeeding, we make Mexico a proposal or alliance on the following basis: make
war together, make peace together, generous financial support and an understanding on our part that Mexico is to reconquer the lost
territory in Texas, New Mexico, and Arizona. The settlement in detail is left to you. You will inform the President of the above
most secretly as soon as the outbreak of war with the United States of America is certain and add the suggestion that he should, on
his own initiative, invite Japan to immediate adherence and at the same time mediate between Japan and ourselves. Please call the
President's attention to the fact that the ruthless employment of our submarines now offers the prospect of compelling England in a
few months to make peace.