Memorandum by the Adviser on Political Relations (Hornbeck)52

I concur, right straight through, in the expressions of opinion which I find in this memorandum.53

I concur in the recommendations with regard to petroleum and iron ore—except that I would suggest that, in imparting to the British and the Dutch information regarding our position and intentions, we do so in general and guarded terms rather than in terms of a promise or agreement.

[Page 885]

With regard to cotton, I suggest that the question be “let ride” for the present—with an expectation that before long we will arrive at an opportune moment for taking the action recommended; and that we so inform the British.

S[tanley] K. H[ornbeck]
  1. Initialed by the Secretary of State.
  2. Dated September 22, supra.