The Acting Secretary of State to the Minister in Ecuador (Dawson)
Sir: Reference is made to your despatch No. 1059 of July 10, 1933,1 relative to the measures taken by the Spanish and French Governments in view of the delay in the payment of sums due Spanish and French merchants by Ecuadoran importers as a result of Ecuadoran exchange control and in which you report that the Ecuadoran Government is disposed to make concessions and has proposed to both Spain and France an arrangement under which a certain percentage requisitioned by the Central Bank covering exports to those countries would be applied to the payment of pending and future sums due their nationals.
In reply you are instructed to advise the Minister for Foreign Affairs informally, if you see no objection to such action, that while this Government will not desire to obtain an agreement similar to the proposals mentioned it will expect the Government of Ecuador to assure practical most-favored-nation treatment by extending to American interests advantages equivalent to those obtained by other countries through clearing agreements.
Very truly yours,
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