The Secretary of State to the Minister in Bolivia (Dawson)
31. Department is giving serious consideration to a request of Bolivian Delegation at Panama for an immediate advance to meet exchange difficulties. Please supply details regarding the exchange situation which is alleged to create an emergency need for $2,000,000 immediate advance. Bolivia has mentioned possibility of including sales of antimony, wolfram ore or tungsten acquired by the Banco Minero, as well as tin, as security. One set-up under consideration is for repayment in monthly instalments of $200,000 beginning 4 months after the advance. Please telegraph comment on practicability of arranging effective security on sales of these minerals, excluding tin, [Page 316] in the United States, in view of Bolivian marketing arrangements and American market conditions.