Memorandum, International Wheat Program

COPY (NAYIONAL MEMORANDUM AND INTERNATIONAL WHEAT AGREEMENT 1. His Majesty's Government believe in the establishment of commodity agreementa to greetor stability in the pricce of end agres with the Government of the United atetes as to the desimbility of exaluting an Internitional whent Agressante Thang niso fully nocept the vieur of the President of the United States that, 18 the for an agreement the possibility af renching agreement on other entrol scheras will be resch 2. lise Nejeaty's given caroot° of thedx denize for an International Agreement lay retifying the of Hanch, 1948, and they vere disppointed that this agressent nover came into force. 3. In appronching the of a non agressent, injeaty's position La governed by the considerations na those which 2od them to accept the agreesent af 1948. Thay balieve thnt At is in the cosson intezent at bath partios that the wheat importing estentries abould accopt which will guarantes the vhont exporting esuntrice egninat the denger of a disestrous fall in pricos to lovels, end that the exparting comtries accept exartimento which will reliewe the importing ecuntaico of the gnave burden of excencively hägh prices asch an pertalted from the regent warla shortage at chente 4. lind the Agreement of 1948 been put into from the beginning of the aurreos erop the importing countriss would hove been receiving their whent requirenente at the controlled - but etill high pelon of $2.00 brashal. in fact the importing countries, which have mlandy paid vory high prioss for tuedr requirementa in recent will bave pild bay the end nd pest July millione of dollars nome then thay vould havo dosse us the agreement bnd como farto foros. lifa injesty's are that the U.S. Govorment will agree that this fact be talbon into account in fixing the miniza: pricos in a nam agresment, nânce it vas the thet the Amporting countrios gaing to recoive immedinte