View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

BOARD OF GOVERNORS
or

THE

FEDERAL RESERVE SYSTEM

Office Correspondence
To

Chairman Eccles

From

D a te

Mr. Knapp




Subject!

January 16,1947-

Anglo-Argentine Agreement

You may have noticed a number of statements in the press
recently to the effect that the British have replied to our note
protesting against the clause in the Anglo-Argentine Agreement
relating to Argentina's use of blocked sterling. There have even
been stories to the effect that another letter has been written
to Chancellor Dalton by Secretary Snyder.
The Treasury has not officially admitted even the receipt
of a reply to the first letter, but I am informed in strict confidence
by Mr* Overby that such a reply has been received. He said that
the Secretary was "sitting on it" and that he was not free to disclose
the contents. I am sure that Mr. Snyder will bring this matter
before the National Advisory Council in due course,but if you
desired, you could raise the question about it at the next H.A.C.
meeting on the basis of the numerous press reports.
Attached is an editorial from Tuesday1 s Herald Tribune
which states that Dalton has admitted a "technical violation" of
the loan agreement with the United States, but has "tossed it off"
as of no practical significance. I would agree with the Herald
Tribune1s comment on this reported statement.

Attachment
JBKrmla

This article is protected by copyright and has been removed.
The citation for the original is:
New York Herald Tribune, “A British Mistake,” January 14, 1947.