422.11G93/1092: Telegram
The Minister in Ecuador (Hartman) to the Secretary of State
[Received March 29—4:50 p.m.]
20. Department’s March 25th, 1 p.m. Total deposits of 30,365 sucres from March 6th to March 23rd inclusive as reported in my number 19 March 26th, 9 a.m. [p.m.],22 would average 1,687 sucres each day or about one third of the amount necessary for the daily bond service.
Official estimate in budget for the year places revenues from import duties for the year at 8,038,460 sucres.
On basis of budget probably nine tenths or 7,200,000 sucres in round numbers would be collected at Guayaquil and pass into the Treasury of Guayas and be [by?] this would produce 1,584,000 sucres or $744,178 at the present Government rate of exchange. The other one tenth or 800,000 sucres would be subject to the eighteen and ninety two hundredths per cent deposit provision and would produce 151,360 sucres or $69,061 making a total of $815,239 which is $44,501 less than the necessary amount to meet the annual interest.
However, I seriously doubt whether the estimated income from import duties will be realized or even be approximated. I shall be agreeably surprised if it reaches 6,000,000 sucres. I am investigating Government methods of deposit through officials here and will proceed to Guayaquil in a few days if necessary and investigate and report by telegraph from there.
Friday afternoon I requested of the Minister of Foreign Affairs that proper officials of the Ministry of Hacienda be instructed to furnish me said information and also information as to amounts daily deposits. He said that he had no objection to granting the request and would speak to Minister of Hacienda to that effect. Thus far [apparent omission] no known reason. To-morrow I will call on the Minister again and urge prompt compliance with my request. I received word from Consul General to-day that the Government and bank officials refuse to furnish data without orders from Finance Minister. Therefore I will on to-morrow comply with Department’s telegram 14, March 25 [26], 5 p.m., and ask explanation of the refusal and why daily deposits do not amount to [Page 198] sum provided for in 1908 agreement. Will telegraph result of interview to-morrow.23