810.00/a / 14
The Minister in Guatemala (
Leavell
) to the Secretary of
State
[Extract]
Guatemala
,
April 30,
1918
.
[Received May
11.]
No. 506
Sir: I have the honor to transmit to the
Department, in compliance with its circular mail instruction of May
28th, 1917,5 the
following brief report upon Guatemalan affairs:
. . . . . . .
(2) The National Legislative Assembly, as a result of the discussion
of a foreign loan, issued a decree (attached hereto, together with
translation) authorizing the establishment of a National Bank in
Guatemala City. Article four of this decree might be interpreted as
authorization to open negotiations for a foreign loan.
. . . . . . .
I have [etc.]
[Enclosure—Translation]
Legislative Decree No. 974, of April 12,
1918, Authorizing the Establishment of a National
Bank
-
Article One: A privileged
National Bank shall be established at the Capital of the
Republic.
-
Article Two: Said Bank shall
have the following objects:
- 1.
- Develop agricultural credit.
- 2.
- Grant facilities for the reconstruction of the
Capital and other towns damaged by the earthquakes,
and,
- 3.
- Cooperate in the arranging of the other economic
necessities of the Republic.
-
Article Three: The Bank shall be
constituted with the capital which it will obtain from the
Government, and from the national and foreign capitalists
through the shares they purchase (subscribe to).
-
Article Four: The Executive is
authorized to conduct here and abroad the necessary
financial operations, and to dictate such orders as may be
conducive to the accomplishment of this Law.
[Here follow the legislative and executive approvals.]
