611.59A31/37
The Chairman of the Icelandic Trade Delegation ( Thor ) to the Secretary of State
Sir: I have the honor to refer to a meeting with Assistant Secretary of State Mr. Adolf A. Berle Jr. on September 5, 1941, at which the Icelandic Government Trade Delegation was informed that the United States Government in order to solve Iceland’s dollar problem would undertake to pay in dollars Iceland’s export to Great Britain but that it would take a few days to find suitable forms for the procedure.
With a view to the comprehensive contract which Iceland has recently made with Great Britain for the sale of fish products from July 1, 1941–June 30, 1942 it was discussed whether the United States Government could take over this contract from July 1, 1941. Later the Delegation was given to understand that it would be impracticable to pay in dollars any goods shipped prior to the contract being formally overtaken by the United States Government. Accordingly Iceland can not expect to obtain dollars for any goods shipped to Great Britain until these formalities are concluded.
The bulk of the export of the most valuable Icelandic fish products is presently taking place and it is therefore of vital importance for Iceland that the new arrangement can enter into effect without delay.
Therefore the Icelandic Government sincerely request that a final arrangement be made now concerning this matter.
Accept [etc.]