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The Chargé in Salvador (Arnold) to the Secretary of State

26. Concession signed and approved by National Assembly to René Keilhauer for the establishment of last [a] bank of emission, authorized capital $10,000,000, gold guarantee for bills will be deposited in banks in the United States. Cabinet has approved 60-day option to René Keilhauer for $16,000,000 loan to be guaranteed by customs receipts and customhouses to be controlled by two controllers, one named by bankers and other by Government, all differences to be submitted to Chief Justice of the United States as arbitrator.