561.311D1/53: Telegram
The Chargé in Great Britain (Atherton) to the Secretary of State
[Received May 23—10:45 a.m.]
163. My 162, May 22, 7 [6] p.m.66 For Federal Farm Board from McKelvie.
[Page 638]“Following resolution adopted at final session today to which American Delegation assented.
‘The Conference of Wheat Exporting Countries, consisting of delegations appointed by the Governments of the United States of America, Argentine, Australia, Bulgaria, Canada, Hungary, India, Poland, Rumania, Soviet Russia and Yugoslavia, having studied the existing world wheat situation, is convinced that among the underlying causes for the present depressed prices for wheat, the following points should be specially mentioned.
- 1.
- The effects of the economic depression throughout the world.
- 2.
- The fact that there is more wheat produced than can be sold at a profit.
- 3.
- The absence of sufficiently adequate information regarding the movements of wheat, the requirements of certain countries, and the quantities which are liable to be placed upon the market.
- 4.
- The present uncertain state of the wheat markets.
The Conference recognizing the serious nature of the world economic depression, believes nevertheless that a substantial contribution to an improvement of the present situation may be made through a clearer understanding of the underlying facts regarding so important a commodity as wheat.
The Conference considers that where possible a reduction in the areas devoted to wheat would be undertaken in whatever way each country considers to be most effective and practical.
It was also felt to be especially desirable that there should be a careful exploration of all avenues for the greater utilization of wheat both for food and also for other purposes.
The Conference further considered that current information regarding the supply, the demand and the movements of wheat should be brought together in such a way as to assist the wheat exporting countries towards the orderly marketing of their surpluses.
The Conference of the Wheat Exporting Countries has therefore decided to establish a committee of the Conference consisting of one representative from each state participating in the Conference to
- (a)
- —Submit to the Governments of the countries participating in this Conference a definite proposal for establishing, under the supervision of the committee of the Conference, a clearing house of information to serve the wheat exporting countries. For this purpose, the committee shall be empowered to secure from the states represented on the committee full information as to the unloadings and stocks of wheat at all importing points, the areas sown to wheat, noticing the crop prospects, thereby assisting the orderly distribution of wheat in world markets. This information should be provided as far as possible in the form prescribed and at the times fixed by the committee.
- (b)
- —To explore carefully all possible avenues for the greater utilization of this important cereal.
The Conference, convinced that the existence of its standing committee will develop the contacts already established here between the wheat exporting countries, proposes that the committee may prepare [Page 639] and recommend a draft agenda for a further meeting of the Conference at which countries here represented may enter upon the consideration of such subjects as may then be appropriate.”
- Not printed.↩