835.6363/12–1447: Telegram

The Ambassador in Argentina (Bruce) to the Secretary of State


1442. President’s Petroleum Day speech yesterday contained only general commitment indefinite to time:

“Since I took office I have struggled to rescue our national economy from strange hands and from international monopolies, (a struggle) which is not incompatible with respect and even with encouragement to as many persons other nationalities as may wish come weld their force [and?] money with ours.” President promised increase national production petroleum and hydroelectric power and make possible utilization now wasted gas; continued “Argentina’s petroleum policy must be based on same principles on which all its economic policy rests: Absolute conservation Argentine sovereignty over riches our subsoil and rational scientific exploitation by state; making clear that when state retrieves immediate direct control properties which nation possesses, it must not relinquish privilege continuing administer them, without sharing functions with other interests other than those belonging all Argentines.”22

  1. For a different translation, see fifth paragraph of Argentine News Bulletin of December 26, p. 302.