832.5151/952: Telegram
The Secretary of State to the Ambassador in Brazil ( Caffery )
1. Your telegram no. 1, January 4, 3 p.m. The exchange situation in Brazil is causing considerable alarm in American commercial circles and the Department is receiving numerous requests for information. Please telegraph fully regarding suspension of exchange transactions reported in the press but not yet reported by your Embassy. Give indication of (1) reasons for and expected length of time of suspension, (2) the situation regarding supply of foreign exchange and (3) available information as to whether the Central Bank intends to establish a fixed rate for the milreis in terms of the dollar.