File No. 701.3511/140
The Ambassador in Argentina ( Stimson) to the Secretary of State
[Received 4 p.m.]
Your May 22, 6 p.m.2 Full text of decree appointing Naón financial commissioner was cabled in my May 8, 1 p.m.2 The comment given in the President’s messages was merely reiterative. The paragraph referring to it is [as follows]:
The new aspects which the present world convulsion give to the relations of external commerce have determined the Government to confide to our Ambassador in Washington the charge of high financial commissioner in the United States, intending by this designation to facilitate his acts and remove as far as it can difficulties created in the matter of exchange.
I may add that in conversation some two months since when Naón was first urging his appointment as such commissioner he told me that he had endeavored to have his powers more broadly stated, but that the President had insisted on limiting them to economic matters. See my telegram of March 26, 3 p.m.,3 giving assurance that Naón’s plan for an economic alliance [has the approval of the President].
It appears to me that all the President has in mind is the furtherance of exportation of articles needed in Argentina by the United States conceding therefor perpetual exchange credits as may prove necessary.