822.51/367: Telegram
The Minister in Ecuador (Bading) to the Secretary of State
[Received November 7—3:50 p.m.]
31. Department’s 22, October 24, 5 p.m. President Tamayo states that unless he obtains a loan he does not expect to appoint a Financial Commission; if, however, the loan is made he will choose an expert from the country in which it is obtained. The authority granted last year for a loan of 100,000,000 sucres, he added, is still discretionary. I endeavored to point out to him the advantages in making an immediate appointment as creating confidence, but he replied that a loan would not be assured by such an appointment and that without this assurance the Financial Commission would impose a burden of expense which the country could not stand. The bankers could be furnished with sufficient data as to income, he added, without the services of an expert. He assured me emphatically that in the event that a loan were obtained, he would appoint a Commission immediately, if necessary, as a part of the loan contract. I am sending a full report by mail.1
- Not printed.↩