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5. DECLASSIFIED E. O. 11652, Sec. 3(E) and 5(D) or (E) AND RECORDE Dept. of State letter, Aug. 9, 1973 = SERVICE" -8- 6 By NLT- He , NARS Date 9.t.76 is prepared to sell her commodities at prevailing world prices. 17. Despite repeated statement by ECA officials that no procurement of any significance would be necessary in Argentina during 1948, a memorandum dated July 21, 1948 prepared in ECA stated that "the first rough balance sheet drawn up by IEFC indicates a demand for some ten million tons nore bread grains that appear at the pr esent time to be available for shipment from the exporting countries, including Argentina". Although the Embassy at Buenos Aires had again and again reported that Argentina would sell her exports for dollars at U.S. prices, the memorandum continued: nor is there anything inconsistent with this position and our lack of interest in Argentine wheat at $5 a bushel. " 18. Although ECA was financing the purchase, as indicated in paragraph No. 9 of considerable grain outside the U.S., Dr. FitzGerald stated in a press conference of August 11 that there was "no immediate prospect" of authorizing any purchase of grain in the Argentine with ECA funds. 19. ECA transmitted to the Department on August 9, 1948 a draft memorandum entitled "ECA Policy With Respect to Argentina". Mr. Robert H. Strange of ECA subsequently stated that this statement of policy had been adopted by ECA. This policy was discriminatory against Argentina in the following respects: a. ECA insisted that Argentina sell all of her exports at U.S. or, if lower, world market prices, even though these exports were sold on terms of credit ex- tended by Argentina or for soft currencies, i.e., for European goods priced above comparable U.S. goods.

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    "ocrText": "5.\nDECLASSIFIED\nE. O. 11652, Sec. 3(E) and 5(D) or (E)\nAND\nRECORDE\nDept. of State letter, Aug. 9, 1973\n= SERVICE\"\n-8-\n6\nBy NLT- He , NARS Date 9.t.76\nis prepared to sell her commodities at prevailing world\nprices.\n17. Despite repeated statement by ECA officials\nthat no procurement of any significance would be\nnecessary in Argentina during 1948, a memorandum dated\nJuly 21, 1948 prepared in ECA stated that \"the first\nrough balance sheet drawn up by IEFC indicates a demand\nfor some ten million tons nore bread grains that appear\nat the pr esent time to be available for shipment from\nthe exporting countries, including Argentina\". Although\nthe Embassy at Buenos Aires had again and again reported\nthat Argentina would sell her exports for dollars at\nU.S. prices, the memorandum continued:\nnor is\nthere anything inconsistent with this position and our\nlack of interest in Argentine wheat at $5 a bushel. \"\n18. Although ECA was financing the purchase, as\nindicated in paragraph No. 9 of considerable grain\noutside the U.S., Dr. FitzGerald stated in a press\nconference of August 11 that there was \"no immediate\nprospect\" of authorizing any purchase of grain in the\nArgentine with ECA funds.\n19. ECA transmitted to the Department on August 9,\n1948 a draft memorandum entitled \"ECA Policy With Respect\nto Argentina\". Mr. Robert H. Strange of ECA subsequently\nstated that this statement of policy had been adopted by\nECA. This policy was discriminatory against Argentina\nin the following respects:\na. ECA insisted that Argentina sell all of her\nexports at U.S. or, if lower, world market prices, even\nthough these exports were sold on terms of credit ex-\ntended by Argentina or for soft currencies, i.e., for\nEuropean goods priced above comparable U.S. goods."
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