The Secretary of State to the Ambassador in Chile (Culbertson)
25. Your 67, May 12, 4 p.m. This Government is taking a strong stand against the whole system of exchange controls and is urging other governments to take appropriate steps in order to remove this obstacle to trade. As long as there is any hope of practical achievement at London in this direction we do not wish to enter into any commercial arrangement recognizing exchange control.
If it turns out that no progress can be made at London in this regard we shall doubtless be prepared to consider a treaty with Chile along the lines you suggest.