195 Code/103

The Assistant Secretary of State (Sayre) to the National Recovery Administrator (Johnson)

Attention: Mr. Weaver

My Dear General Johnson: May I venture to send you herewith a copy of a memorandum21 concerning the proposed code for the shipping industry. The question of including in the proposed code a provision for regulating minimum rates on cargoes carried out of American ports by foreign as well as by American ships was discussed by the Executive Committee on Commercial Policy at a recent meeting. The Committee approved of the enclosed memorandum and was of the opinion that the promulgation of a code thus applicable to foreign ships might have very serious consequences in the development of American shipping and commerce.

Very sincerely yours,

Francis B. Sayre
  1. Ante, p. 690.