561.311F1/74: Telegram
The Secretary of State to the Ambassador in Great Britain (Bingham)
134. For Morgenthau from Wallace. Supplementing my cable No. 70. This will give you confidentially fuller expression my views. Acreage reduction program here held up temporarily pending outcome conference four exporting countries. If satisfactory international reduction is agreed at your conference we might voluntarily order a larger reduction here than the agreement bound us to secure. The international agreement would be most acceptable to our farmers if it specified the same percentage reductions for all countries even if the base selected favored other countries. While we want as much reduction as you can secure, reduction of not less than 10 per cent would be worth while if necessary to secure agreement all four countries. [Wallace.]