File No. 812.512/735.
[Untitled]
Department’s July 26, 5 p.m., and July 26, 6 p.m. See my July 26. Government is willing to suspend decree for three months; makes precisely same stand as in export taxes. Products sold for gold should pay taxes in gold. It is understood that where gold is mentioned the Mexican gold peso is intended as a basis. It has a value of approximately fifty cents American. The Government considers that its paper peso has so greatly depreciated, that it is not now a fair unit of value for determining such taxes. On the other hand it would appear that twelve pesos is an excessive increase under all the circumstances. Will continue effort to get a equitable reduction.