Memorandum by President Roosevelt to the Secretary of State

I will not do or say anything about the enclosed11 until you and Ickes have a chance to talk things over.

Offhand, I cannot approve holding this thing in reserve. Action is really necessary—and I think we should negotiate with our own [Page 17] people who have oil before we negotiate with the British. In other words, we ought to know just what our own assets are before we try to make out a case with the British.

F[ranklin] D. R[oosevelt]
  1. The memorandum of January 8 by the Secretary of State, p. 15.