811.20 Defense (M) Colombia/17: Telegram

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

718. Department’s 538, December 23, 6 p.m. In preliminary conversations with the Ministry of Foreign Relations on December 11 it was stated by the Ministry that they were now studying the possibility, under the recently enacted special powers, of the Government purchasing platinum on the same basis as it now purchases gold. A representative of the Embassy brought up the question of the production of the South American Gold and Platinum Company and the Ministry statement that if such arrangement were worked out the production of this American company could undoubtedly be expected [excepted].

I am hoping shortly to see the Minister of Finance on this and other matters and will report more fully after my conversation with him.

[Page 55]

[In telegram No. 118, January 29, 1942, 1 p.m., the Ambassador in Colombia reported that the South American Gold and Platinum Company and its subsidiaries would be permitted to continue direct exportation and sales (811.20 Defense (M) Colombia/23). In despatch No. 3669, February 9, 1942, he reported that the Bank of the Republic had written to the Metals Reserve Company confirming the bases for the sale of independently produced platinum to the United States and that the Minister of Finance had issued instructions that no platinum produced in Colombia should be sold anywhere other than in the United States (811.20 Defense (M) Colombia/30).]