811.51/4498: Telegram

The Ambassador in Ecuador (Long) to the Secretary of State

650. The Minister of Finance has submitted to the President for approval a decree regulating dealings in United States currency which conforms with the instructions of the Department10 except that remittance by Ecuadoran workers in any foreign country up to $50 monthly will be accepted up to September 30. Tourists with passports issued by Ecuadoran or American authorities may cash [Page 420] amounts up to $50 monthly up to September 30. After this date neither provision will be effective. In view of the very limited amounts which will be involved as a result of these modifications and in view of the generally favorable character of the decree it is recommended that no objection be made to these provisions. The Minister of Finance requests that the Treasury Department give assurances that if the United States currency forwarded from Ecuador to the Federal Reserve Bank is found to be of Axis origin this will be returned to the Central Bank to be held in the blocked account of the depositor. He feels very strongly on this point. No indication was given as to what decision the Treasury Department might make. An early reply is requested.

  1. Reference appears to be to telegram No. 572, August 7, 6 p.m., supra.