825.516/209: Telegram
The Ambassador in Chile (Culbertson) to the Secretary of State
[Received 7 p.m.]
120. Referring to Department’s telegram No. 45, June 29, 5 p.m., second paragraph.20 Decree law No. 98 dated June 25 and published in Official Gazette dated July 1 reads as follows:
“Sole article. Decree law No. 38 of June 16th of the present year is repealed”.
Referring to my despatch No. 1184, June 29,20 yesterday Garces, president; Matte, vice president; Burr, general manager; and Benavente, secretary, of the Central Bank, resigned stating that they are not in accord with the financial policy of the Junta. These resignations were accepted but Garces and Matte continue in their capacity of directors. Principal point in dispute is the industrial development and unemployment relief measure which has been signed but not yet promulgated and which would require the discounting of 190,000,000 pesos of treasury notes with the Central Bank.