611.3531/644a: Telegram
The Secretary of State to the Ambassador in Argentina (Weddell)
81. For your confidential information, a memorandum was handed the Argentine Ambassador on June 13, 1938, embodying the following:
In the event agreement is reached in regard to exchange treatment under a trade agreement (on the basis of the proportional formula, outlined in this Government’s memorandum of March 24, 1938,23 enclosed with the Department’s instruction number 726 of April 5, 1938,24 using the period 1932–1934, giving percentage of 12.86, as the base period for the purpose of the formula), and substantial agreement is reached on the substance of the other general provisions and on the concessions to be granted by both countries before July 7, this Government will issue not later than that date announcement to negotiate a trade agreement with Argentina; if the agreement should not be completed and published by early September, it would be necessary publicly to announce the unsuccessful termination of negotiations. Lists specifying the proposed concessions to be granted to the United States by Argentina, and the proposed concessions to be granted to Argentina (the latter tentative pending hearings in this country as required by law) were attached to the memorandum of June 13. The Department is informed by the Argentine Embassy that this memorandum has just reached the Argentine Government by airmail. You should, [Page 297] at the earliest opportunity, call upon the President of Argentina and express the earnest hope of this Government that Argentina will find it possible to utilize this opportunity to consummate a trade agreement. You may state that our initiative in this matter has been personally considered and approved by President Roosevelt.