Memorandum by the Secretary of State

The Argentine Ambassador2 called to inquire about possibilities of progress in the reciprocal commercial treaty negotiations between his Government and that of the United States. I told him that many of us here were much more anxious to liberalize, if possible, commercial policy and to restore international trade than any other government in this Hemisphere; that I had not neglected the slightest chance to advance such general program since my return from South America; that mine along with other countries had practically gone wild in the practice of extreme economic nationalism and isolation, and a vast amount of blind or selfish sentiment had been created in its support. I stated that time and patience were really necessary on the part of all Governments interested; that we might make more rapid progress from time to time than was expected, or progress might be slower than was expected; but that we should continue in every possible way to advance this policy and program. I told the Ambassador we were hoping that soon the President would ask Congress for authority to negotiate and place in operation the proposed reciprocal commercial treaties without ratification by the Senate.

C[ordell] H[ull]
  1. Felipe A. Espil.