The Ambassador in Argentina ( Weddell ) to the Secretary of State
[Received October 23.]
Sir: I have the honor to refer to the Embassy’s despatch No. 1354 of September 17, 1936, informing the Department that official exchange is being granted on all the fifty categories of merchandise granted by this exchange concession with the exception of X-ray films. I now wish to report that X-ray films are also receiving official exchange.
I yesterday had a further discussion with the Minister of Finance over matters connected with our commercial relations. The principal reason of my visit with him was to urge an increase to the list of fifty categories of merchandise from the United States to receive official exchange granted to us by the Minister’s note of June 16, in which he promised to study the possibility of such an increase. I enclose herewith a memorandum of my conversation with the Minister.
While Argentina’s exchange position has strengthened considerably with an increasing amount of foreign exchange available, this position hinges to a large extent on the outcome of the negotiations now going on for a renewal of the Roca-Runciman Agreement. I understand that exporters shipping products to Great Britian as well as British vested interests here are pressing for exchange concessions eliminating the Government’s margin of profit between the buying and selling rate, and that this aspect is now playing a large part in reaching an agreement satisfactory to both countries.
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