The Secretary of Commerce (Jones) to the Secretary of State
Dear Mr. Secretary: Mr. C. B. Henderson, a Director of the RFC and President of Metals Reserve Company, has received from Dr. Herbert Feis, Adviser on International Economic Affairs, copy of a proposed British agreement with Bolivia covering the exportation of tin ores.
The proposed agreement is clearly an attempt on the part of the British Government to prevent Bolivian tin ores from coming to this country after five years. In my view, the British should be advised that any such arrangement would not be in keeping with the friendly relations existing between our two countries.
We are investing a large amount of money in a smelter to treat these ores
- to aid Bolivia in getting dollar exchange with which to meet its financial problems, and
- to get a supply of tin which we must have for our own use and to aid Britain.
I hope you will advise the British that any agreement on their part which will prevent our securing Bolivian tin ores sufficient to manufacture 18,000 tons of fine tin a year for as long as we want to buy it will not be satisfactory to the United States Government.