611.5231/801

The Spanish Ambassador (Cárdenas) to the Secretary of State

[Translation]
No. 111/08

Mr. Secretary: I have the honor to address Your Excellency to confirm my statement to you in our conversation of yesterday with regard to the present condition of Spanish trade and economic relations between Spain and the United States which demand a prompt change directed to the elimination of the present deficit in the present balance of payments, estimated at 143 gold pesetas per hundred, if the figures for 1932–1933 are taken as a basis.

The substantial reduction that has taken place in our exports to the United States, as a result of the increase in tariffs placed on some of our most important articles, has increased enormously with the establishment of important American industries in Spain, as this leads to a very heavy exportation of currency, the result thereof being that the deficit with the United States of America is the largest that Spain has with any country.

In view of so serious a situation, I take the liberty of drawing Your Excellency’s attention to the desire of the Spanish Government to see it changed as soon as possible, to which end it hopes that the Government in which Your Excellency holds so worthy a position will remove the great difficulties with which Spanish exports to this country are contending, and that there will be a favorable settlement of the claims, submitted some time ago, adequate facilities being afforded at the same time in order that the corresponding Spanish organization may, if it considers it expedient, make arrangements in this country for financial facilities.

[Page 696]

I do not wish to conclude without pointing out to Your Excellency that the requests of my Government are based on principles of the strictest equity and on the urgent necessity in which it finds itself to see a change in the serious situation created to which I have previously referred.

I take [etc.]

Juan F. de Cárdenas