183. Editorial Note
On April 25 the Standard Oil Company of California signed a contract with the Argentine Government granting the company the right to refine and market petroleum in Argentina. (Telegram 636 from Buenos Aires, April 25; Department of State, Central Files, 835.2553/4–2555) At a meeting of the Secretary’s Staff on April 26, Holland brought up this subject: “Mr. Holland noted reports that the Argentine Government had signed a contract with Standard of California which might set a valuable precedent for other Latin American countries which had blocked development of their oil resources by obstructing private investment.” (Notes of the Secretary’s Staff Meeting; ibid., Secretary’s Staff Meetings: Lot 63 D 75)
[Page 360]On May 6, the Argentine Government issued an executive decree approving the contract with Standard Oil of California. The contract was then submitted to the Argentine Congress for approval on May 9. (Telegram 676 from Buenos Aires, May 10; ibid., Central Files, 835.2553/5–1055)