824.50/294: Telegram

The Ambassador in Bolwia (Boal) to the Secretary of State

2013. For Assistant Secretary Berle. Please telegraph for my own information what the situation is with regard to Bolivian funds and Government monetary reserves in the United States. Are they [Page 538] blocked? Development Corporation has about 3 million dollars in the Banco Central which comes from former Bolivian Government deposit. You may wish to see whether Export-Import Bank desires to instruct its directors in La Paz including Egger14 against any withdrawals either in Bolivia or in the United States in excess of regular running expenses. While Inslee15 has some fears regarding this as a precedent for the Bolivian side both Egger and Crespo16 feel this would be very desirable if done immediately.

In view of Crespo’s arrest and later release today “because his cooperation would be needed” Egger and I fear the Junta might seek to put pressure on the directors to use their present powers by threatening the welfare Crespo and his family.

  1. Rowland A. Egger, Manager, Bolivian Development Corporation.
  2. Joseph A. Inslee, Representative of the Export-Import Bank.
  3. Alberto Crespo Gutierrez, President of the Bolivian Development Corporation and former Minister of National Economy.