822.61334/93: Telegram
The Secretary of State to the Minister in Ecuador (Bading)
12. Department informed that a bill was introduced in Ecuadorean Senate August 30, proposing reduction of the present three sucre export tax on cocoa [cacao] to one sucre. You will inform the Ecuadorean Government that the Department relies upon President Tamayo’s assurance contained in his letter of February 5, 1922, to former Minister Hartman, a copy of which was transmitted with Legation’s despatch 787, February 9, 1922,25 in which President [Page 941] Tamayo states he will make effort to see that the indebtedness of the Asociacion de Agricultores del Ecuador to the Mercantile Bank of the Americas will be totally paid under the law of 1921 which extended the period of the three sucre tax on cocoa to December 31, 1925, and that if in 1925, this indebtedness of the Assoeiacion de Agricultores del Ecuador to the Mercantile Bank of the Americas has not been paid, said tax will be extended until this debt has been cancelled.