825.506/8: Telegram
The Secretary of State to the Ambassador in Chile (Collier)
31. The Department has not yet received proposed Chilean law nationalizing insurance. However, upon the information at hand, the Department does not think a protest is warranted upon grounds that the law under international law would be confiscatory and violative of the rights of American citizens. Nor does the Department think that article 59 infringes upon the sovereignty of foreign countries and trespasses upon the rights of foreigners as you suggest. However, the Department believes that you are warranted in urging that it be eliminated because it would interfere with free and mutually beneficial intercourse between the United States and Chile. At your discretion you may take up this matter again informally with the Minister for Foreign Affairs.