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United States Department of State / Papers relating to the foreign relations of the United States, 1920
(1920)

Ecuador,   pp. 174-215 PDF (13.9 MB)


Page 174

ECUADOR
FINANCIAL AFFAIRS
Project for an Italian Loan of 40,000,000 Sucres to Ecuador-Plan for
Refunding the Ecuadoran Foreign Debt by Banks in the United States
722.65/Orig.: Telegram
The Minister in Ecuador (Hartman) to the Secretary of State
QUITO, October 2, 1919-noon.
[Received 8: 35 p.m.]
Morning papers publish following clauses from memorandum
presented to Government of Ecuador by Colonel Bendetto Accorsi,
Chief of the Commercial Delegation of the Italian Government
who arrived in Quito a few days ago:
" 1st, Italy will send a minister resident to Quito and a consul of
career to Guayaquil;
2d, an Italian company guaranteed by the Italian Government
will establish an aero service for mail in the triangle Quito, Cuenca,
Guayaquil;
3d, the Ecuadorean Government will cede to Italy the monopoly
of tobacco in leaf with guarantees for the manufactured tobacco in
the entire Republic. In exchange the Italian Government grants
to Ecuador a credit of 30,000,000 sucres for use exclusively for fol-
lowing purposes:
(a) Ten million sucres for construction of the railroad from
Quito to Esmeraldas.
(b) Ten million for construction of the railroad from Puerto
Bolivar to Cuenca and Loja.
(c) Ten million for the railroad from Guayaquil to St. Elena
and the respective wharves each one of these ports.
Preference to be given to Italian companies for the exploitation
of mines and coal, petroleum, minerals, forests, et cetera not only
on the continent but also in the Galapagos Islands."
Newspaper reports President called a meeting of the Cabinet yes-
terday to consider the memorandum.
'Will report developments.
HARTMAN
174


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