Royal Decree No. 958 of May 25, 1927, as Published in “Gaceta de Madrid,” May 26, 192753
In accord with my Council of Ministers and as submitted by its President I make the following decree:
- Article 1. From the date of publication in the Madrid Gazette of this decree merchandise proceeding from the United States of North [Page 730]America shall enjoy most-favored-nation treatment as resulting from the application of commercial treaties now having consolidated duties and for such time as the said consolidation lasts. In this sense the extension of the modus vivendi of August 1st, 1906,54 arranged by exchange of notes dated October 6th and 22nd, 1923,55 is to be interpreted.
- Article 2. Application of the foregoing provision shall have a maximum duration of six months and carries with it the obligation to make within that period a commercial treaty of mutual reciprocity which will bring about complete stability in the commercial relations between the two countries.
- Article 3. As a consequence of the provisions contained in the two foregoing articles the extension of the said modus vivendi of August 1st, 1906, shall be considered as having been denounced in order that, on the termination of its operation and within the period of six months hereinbefore mentioned, the new treaty that shall have been negotiated may go into effect.
Done at the Palace, May 25, 1927.
President of the Council of Ministers,
Miguel Primo de Rivera y Orbaneja