102.81 Buenos Aires/35: Telegram

The Consul at Buenos Aires (Bailey) to the Secretary of State

15. From Commercial Attaché for Commerce. Manager of the First National Bank of Boston cabled October 31 to First National Bank of Boston, New York, for transmission to committee on Argentine blocked balances that Argentine Minister of Finance is becoming impatient over delay of American interests in taking action similar [Page 763]to British Roca agreement. Referring to my 12,38 American Chamber of Commerce on October 31 appointed committee to compile data and recommend what action should be taken by Chamber both with American and Argentine Governments to secure more exchange. President of American Chamber of Commerce here has received cable from National Foreign Trade Council, New York, stating that committee on Argentine blocked balances request him to act as chairman subcommittee including Wilcox and Drumm, managers of First National Bank and National City Bank of New York respectively to conduct conversations with Argentine Minister of Finance leading to possible agreement on blocked balances subject to committee’s instructions and without commitment until authorized in writing. New York committee asks that Dye act as unofficial adviser to Argentine subcommittee.

Referring to Department of State’s No. 75, September [October] 7, 2 p.m., I believe various groups have now agreed place negotiations in hands of above committee, consequently recommend that I act in purely unofficial capacity as adviser. Dye.

  1. Telegram No. 12, October 18, 1 p.m., p. 751.