The Minister in Ecuador (Long) to the Secretary of State
[Received April 7.]
Sir: Reference is made to the Department’s instruction No. 91 of March 2, 1939, regarding Ecuadorean import control measures and [Page 610] their relations to provisions of the Trade Agreement and to imports from the United States, and to my despatches No. 392 of March 17, 1939, and No. 405 of March 27, 1939 thereon.21
I have the honor to report that I am in receipt of a note dated March 29, 1939, from the Minister for Foreign Affairs22 in which he quote the Minister of Finance to the effect that, as soon as the Board of Directors of the Central Bank has been constituted, his Ministry will request a reform of the Import Control Regulations and will take into account the complaints presented by the countries with which Ecuador has concluded trade agreements. The Foreign Minister declares that he feels sure that careful consideration will be given to the modifications of the Regulations which will be duly presented by the Ministry of Finance, adding that the factors concerning the balances of payments and the trade agreements signed, among them that with the United States, will be first studied.
A translation of the foregoing note is enclosed for the Department’s information.
In this connection, I have the honor to inform the Department that the President of the Republic told me a couple of days ago that he expected that the Board of Directors of the Central Bank would be completed shortly and that they would not delay in proceeding to revise the Import Control Regulations.