835.51/897: Telegram
The Ambassador in Argentina (Bliss) to the Secretary of State
[Received 7:50 p.m.]
29. I have just learned from reliable source that, whereas percentage of exchange (presumably as between 20 and 33 percent) to be reserved for British interests in Roca Mission93 negotiations is still in dispute, it has been settled that when agreement reached there should be a 20–year loan of 10,000,000 sterling at 4 percent interest without amortization in first [5] years. The proceeds would become available in England to holders of blocked pesos which at this end would be applied to reducing Argentine Government internal floating debt now bearing higher rate of interest. My informant was of opinion that American interests in this country would be well advised from their point of view to take similar action, as British agreement will place them at a disadvantage.
I am further informed that Ministry of Finance has at last admitted, albeit in confidence, that amortization payment on national external debt may have to be suspended.
- The mission headed by Dr. Julio M. Roca, the Vice President of Argentina, departed from Argentina on January 12, 1933, to “return the visit of the Prince of Wales and to converse with the Government of Great Britain regarding the commercial relations between the two countries.” (641.3515/15)↩