835.5151/303: Telegram

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

49. Your No. 76, May 11, 6 p.m. Please prepare in collaboration with Consul General and submit promptly by air mail a report on blocked peso balances including information on the following points:

1.
Best estimates of the total sums blocked and of the total held by principal nationalities.
2.
Percentage of American total represented by accumulated earnings on investments in Argentina and principal holders of blocked accounts in this category together with the approximate amounts held by them.
3.
Action taken and recommendations made to the Argentine Government respecting blocked funds during recent weeks by the special exchange committee of the American Chamber of Commerce and by groups representing other nationalities.
4.
Opinions of informed American business men and bankers regarding the Argentine Government’s latest proposal and their views as to the possibility of securing alternative offers or solutions.
5.
Your opinions of the Government’s proposal and your views as to possible alternatives and as to the position this Government should take with respect to the whole problem of American blocked balances.

Hull