811.51/5105: Airgram
The Secretary of State to the Ambassador in Bolivia (Boal)
A–78. Your despatch 545, August 31. It is suggested that you inform the Foreign Office that the several individuals and firms who were unable to deposit their currency prior to July 15 now be allowed to make such deposits for forwarding to the United States on a collection basis. Treasury has stated that it will not view the failure of these persons and firms to make their deposits before July 15 as per se sufficient grounds for denying the applications for release. Treasury, [Page 629] however, does not wish to authorize local liquidation of the currency in view of the fact that such action might establish an unwise precedent.
With respect to the suggestion that the Minister of Finance will do everything possible to avoid accepting currency from undesirable persons or firms, it should be noted that the acceptance of such currency for forwarding to the United States on a collection basis may be advisable since the currency will be effectively withdrawn from circulation and can be blocked in this country for reasons other than failure to deposit before July 15.
It is assumed that the foregoing will satisfy the desires of the Bolivian Foreign Office. If this should not be the case, please inform the Department.