840.51 Frozen Credits/6673: Telegram

The Ambassador in Brazil ( Caffery ) to the Secretary of State

1921. The Bank of Brazil has received a telegraphic request from the Bank of International Settlements, Basel, Switzerland, to transfer to the Banco Central in Buenos Aires the 503 kilos of gold held in the Bank of Brazil for its account.

The Bank of Brazil has replied: “We believe that Brazilian authorities would not permit exportation of the gold during the emergency.”

The Director of Exchange51 says “This is a polite way of saying no.”

The gold was imported into Brazil in 1941 and turned over to the Bank of Brazil by the French Embassy here.

  1. Francisco Alves dos Santos Filho.