822.51/295

The Chargé in Italy (Crosby) to the Secretary of State

No. 106

Sir: With reference to the Department’s Instruction No. 33, of June 19th, 1920, and previous correspondence, and to the second paragraph of my telegram No. 290 of July 29th, 11 a.m. [noon],9 I have the honor to enclose, herewith, translation-copy of a Pro-Memoria (No. 30162/177) of August 3rd, from the R[oyal] Ministry of Foreign Affairs, regarding a loan from the Italian Government to the Republic of Ecuador.

I have [etc.]

Sheldon Leavitt Crosby
[Enclosure—Translation]

The Italian Ministry of Foreign Affairs to the American Embassy

Pro Memoria

By Legislative Decree of October 28th, 1919, the Government of Ecuador was authorized by Congress to stipulate a contract ad referendum for the ceding to an Italian Company (which it was there considered could be organized by the Royal Government) of the tobacco monopoly, railway construction and other public works, against a loan for the sum of the relative works.

The contract remained in the state of project, the Royal Government having assumed no undertaking in regard thereto.

The favorable disposition shown by the Government of Ecuador towards Italy however encouraged some Italian manufacturers and business-men to form a Company, who will proceed to Ecuador, [Page 185]exclusively at their own expense and on their own account, with the principal object of developing the natural resources of that country, in accordance with conditions and articles which it will be considered necessary to stipulate directly with the local authorities.

The interests of this Company will certainly have the aid and protection which all national interests abroad in general should have from the Royal Government.

  1. Not printed.