The Ambassador in Chile (Culbertson) to the Secretary of State
[Received 8:20 p.m.]
73. Department’s telegram No. 28.8 In general American business with one exception has not kept large foreign currency balances in Chile. An approximate estimate of the value of these deposits is $800,000 United States currency of which about $600,000 belongs to the Dupont subsidiary.[Page 439]
In my informal written communication to the de facto authorities yesterday I referred to a former note addressed to the Minister for Foreign Affairs of the Montero government in which I incorporated the policy in your telegram No. 24, May 28, 2 p.m.9 I said that this policy applies not only to oil property but to all American property in Chile. I then called attention to the adverse effect which the decree quoted in my telegram No. 70, June 9, 4 p.m., would have on deposits in foreign currency by Americans and on the obligation of American banks arising from their trusteeship to all foreign currency depositors.