832.5151/1349: Telegram

The Chargé in Brazil (Scotten) to the Secretary of State

96. For Under Secretary. My 78, March 20, 6 p.m. The Director of Exchange of the Bank of Brazil informs me that a full meeting of the Cabinet will be held at Petropolis this afternoon to consider various aspects of the agreement arrived at in Washington with Aranha and that as a result he expects that a new exchange decree law will be promulgated shortly. He adds that his resignation will in all probability take effect upon the promulgation of the new decree law at which time a new director will be appointed.