The Ambassador in Ecuador (Long) to the Secretary of State
[Received May 6—noon.]
A–221. Reference Department’s circular airgram of April 7, 8:10 pm,52 regarding the restrictions on remittances of United States currency.
This matter has been discussed in detail with the Minister of Finance53 who raises no objection to the proposed plan and makes no requests for exceptions in the case of Ecuador.
The Executive Decree issued on August 12, 1942, prohibits the acceptance of United States dollar currency from all sources after September 30, 1942. No deposits of dollar currency held by firms or individuals were permitted after that date with the Central Bank or any other institution for forwarding to the United States. In view of [Page 305] the broad character of the Executive Decree and the publicity which has previously been given to it, it is not felt that there is any necessity for a statement by the Central Bank such as was indicated in the Department’s circular airgram, since the Central Bank has accepted no currency during the past seven months.
A translation of the Executive Decree of August 12 was enclosed with the Embassy’s despatch No. 3393 of August 14, 1942,54 entitled Ecuadoran Regulation of United States Currency Transactions.