811.20 Defense (M)/2409: Telegram

The Ambassador in Colombia (Braden) to the Secretary of State

225. Department’s telegram No. 152, June 13. Minister of Foreign Relations informed me this afternoon that exchange control office has already issued two of the three decrees necessary to enable Bank of Republic to purchase all platinum in a manner similar to that now employed in purchasing gold. He hoped there would be no further legal obstacles although one could never be sure in countries like the United States and Colombia having so many laws (sic). However, he was confident by aforementioned steps all Colombian platinum would be routed to the United States and he assumed contract for total production for 1 or 2 years could be made with the Metals Reserve Company.

Despite the Minister’s assurances, I fear illicit buying and smuggling will continue.