740.0011 European War 1939/10595: Telegram
The Secretary of State to the Ambassador in Spain (Weddell)
220. Your 375, May 3, 4 p.m. Procedure suggested in your last paragraph approved. What we particularly desire to do at this moment is to impress upon the Caudillo the fact that we are prepared to discuss ways and means of improving our economic relations with Spain. The action that we might find it possible to take to assist Spain would naturally depend primarily upon the attitude and intentions of Spain with respect to the first of the four points mentioned in our no. 350 of December 19, 7 p.m.
You will be informed in more detail later of our position with respect to the products under export license control in which the Spanish Government is interested. You will also be advised of developments in connection with the suggested exchange of commodities involving olive oil from Spain in return for peanut oil and wheat from the United States. For your information, British Embassy here has taken up this proposal with London and is communicating with Sir Samuel Hoare on certain points.