Mr. Combs to Mr.
Hay.
American Legation,
Guatemala and Honduras,
Guatemala, September 20, 1904.
No. 204.]Sir: I have the honor to inclose a copy of
decree No. 647, withdrawing decree No. 639, called the gold decree, of
December 22 last, which excited so much alarm in business circles.
I felt sure, after the vigorous representations made by this legation
immediately upon the issuance of the decree to the Guatemalan Government
and its response thereto, reported to you in dispatch No. 131 of January
11, 1904, decree No. 639 would never be enforced in the terms
feared.
Its formal recall, however, is most satisfactory.
I have, etc.,
[Inclosure.—Translation.]
Decree No. 647.
Manuel Estrada Cabrera, constitutional President of the Republic of
Guatemala,
Considering: That decree No. 639, emitted December 22, 1903, had for
its object the filling of some wants and the clearing up of certain
doubts proceeding from decree No. 595 of June 9, 1899.
That notwithstanding the good intentions the government had in view
in emitting the first-mentioned decree, it has given rise to
interpretations prejudicial to the development of the economic
interests of the country.
Considering: That the crooked or malicious interpretations referred
to have gone to the extreme of pretending to trample underfoot the
principle that the will of the contracting parties is the supreme
law for contracts, thus producing alarm and want of confidence in
the economic system.
For the above reasons, making use of the faculties with which I am
invested, I decree,
Only Article. Decree No. 639 of December
22, 1903, is annulled.
[Page 351]
Account will be given to the National Assembly at its next session of
the present decree.
Given in the palace of the executive
power, Guatemala, fourteenth day of
September, 1904.
Manuel Estrada C.
Secretary of
state in the department of government and justice,
Juan J. Argueta.
