The Acting Secretary of State to the British Ambassador (Halifax)

Excellency: I have the honor to acknowledge the receipt of your two notes of December 15, 194566 in which you place on record the position and intentions of your Government in respect of the application to the colonial dependencies of His Majesty’s Government in the United Kingdom of sections 8 and 9 of the Financial Agreement between the United States and the United Kingdom signed on December 6, 1945. I also acknowledge the receipt of the list, transmitted with these notes, of the territories comprised in the term “Colonial dependencies”, which appears in section 6(iii) of that Agreement.

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Sections 8 and 9 of the Agreement relate respectively to the relaxation and removal of exchange restrictions on trade and other current transactions and to the nondiscriminatory application of quantitative restrictions on imports. I am pleased to note that the Government of the United Kingdom will give full application to these principles in respect of the several dependencies in which it has the authority to do so, and, in the dependencies in which it has not such authority, will use every endeavor to persuade the competent authorities to comply with these principles.

With regard to the application of sections 8 and 9 of the Financial Agreement to the territories and possessions of the United States, the Secretary of the Treasury has undertaken to direct to you a letter setting forth appropriate assurances in this regard.67

Accept [etc.]

Dean Acheson
  1. Neither printed.
  2. On January 30, 1946, the Secretary of the Treasury informed the British Ambassador that the provisions of sections 8 and 9 would apply to all U.S. territories and possessions. Copy of note, not printed, obtained from the Department of the Treasury.