832.506/31: Telegram
The Chargé in Brazil ( Scotten ) to the Secretary of State
[Received 11:40 a.m.]
42. Department’s 22, May 5, 11 a.m. I discussed the insurance legislation with the Acting Minister of Foreign Affairs55 yesterday [Page 366] and left an aide-mémoire 56 substantially as indicated in the Department’s instruction. The Minister was fully conversant with the question, having been approached on several occasions by the British, French, German and Italian diplomatic representatives here. He informed me that he fully recognizes the harm which the legislation if passed in its present form would do to foreign insurance companies and said that he had discussed the matter fully with the President. He assured me that the insurance companies would have a full opportunity to present their case before any action was taken and added with a significant gesture that there is nothing for the companies to worry about at present. I assume the attitude of the Minister of Foreign Affairs to mean that the President has passed word along in proper quarters to the effect that no action should be taken upon the proposed legislation at least during this session of Congress.
The Embassy, however, will continue to follow this matter closely.