422.11Am8/27: Telegram
The Acting Secretary of State to the Minister in Ecuador (Hartman)
Washington, March 1,
1922—4 p.m.
6. Your 4, February 15, 3 p.m.
You will appropriately and clearly inform the Government formally in writing that: [Page 102]
- 1.
- This Government has received several specific complaints from American citizens concerning the damages with which they are threatened by reason of the action of the Government of Ecuador in fixing an arbitrary and retroactive rate of exchange.
- 2.
- This Government has taken due note of the statements of the President of Ecuador with respect to the purposes and motives of his government in taking said action.
- 3.
- This Government insists upon observation of the principle that a foreign government cannot by any act, properly prevent American citizens from exercising rights acquired by them under existing contracts entered into in good faith prior to the date of such action.
- 4.
- Therefore, in case the Government of Ecuador considers it necessary for reasons of its own to maintain its reported policy with respect to exchange rates, it is to be understood that the Government of the United States reserves the right to give diplomatic support to claims of American citizens who shall have suffered financial loss by reason of having been unable to collect the full amount of monies due them as a result of such policy.
Fletcher