560.M2/354: Telegram

The Acting Secretary of State to the Chairman of the American Delegation to the Monetary and Economic Conference (Hull)

44. In a note dated June 14 British Ambassador states that His Majesty’s Government have deemed it advisable to avail themselves as from June 30 of their right to be relieved of the obligations accepted by them in accordance with the Import and Export Prohibitions and Restrictions Convention “in order that they may be free to enter into any agreements bearing upon the question of prohibitions, quotas and similar restrictions which may result from the Monetary and Economic Conference”, adding that a formal declaration of withdrawal has been forwarded to the Secretary General of the League of Nations.

This action by the British Government and certain provisions of the new Recovery Act5 which authorize the President to license imports and impose embargoes make it imperative that we give immediate consideration to the question of what the United States should do in respect of this Convention. Please telegraph immediately your views and recommendations, bearing in mind that the only countries besides ourselves which remain bound by the Convention are Japan, Norway, Denmark and Netherlands.

Phillips
  1. 48 Stat. 195.