611.5231/1014: Telegram
The Ambassador in Spain (Bowers) to the Secretary of State
Madrid, August 14, 1935—2
p.m.
[Received August 14—12:10 p.m.]
[Received August 14—12:10 p.m.]
53. Exchange Control Board informed local banks August 12 that it will, upon application, insure against exchange fluctuations amounts covered by exchange applications in payments of imports from England, France, Switzerland and Holland. Unless exchange insurance extended to imports from the United States it might prejudice our trade in favor of above countries. I have appointment with Sub-Secretary of State August 16 and will then cable full report.
Bowers