File No. 422.11 G93/457.]
The American Chargé d’Affaires to the Secretary of State.
Quito, April 25, 1912.
General Plaza states that the Government has 50,000 sucres cash on account of coal ship, and offers draft at 90 days sight to cover the other 50,000, which can be negotiated in Ecuador with discount of not more than 5 per cent. He now says payment of additional 50,000 sucres in May is impossible.
Arbitration of all bills prior to December 28, 1911, including all interest questions, is demanded by the Government.
Plaza also states that 100,000 shall be applied to revolutionary bills as compromised. He added that the utmost the Government can pay monthly until December is 10,000 sucres, to be applied to cancel the same account.