Evening star., 1940-12-01

HauI PreblScn, manager OF the Argentine
Central Bank. This mission, sent os-
tensibly to seek an estimated 100000
600 loan to bring about financial and
economic recovery and avert the present
crisis, actually is dealing with something
far more fundamental
According to recent word from Buenos
Aires, Finance Minister Pinedo is looking
half century into the future and Is
seeking cooperation of the United States
in long-range financial, economic and
trade program intended to decrease the
dependence of his country on Europe.
Secretary of Commerce Jones an
nounced a-few days ago that increased
purchase of Argentine products is one of
the objectives of the conferences now
being held between administration Of
ficials and the Argentine mission. De-
tails of the plans for economic co-op-
Grafton between this country and Ar
gentina are being studied by commit
tee of Government experts headed by
Wayne Chatfield Taylor, new Undersec-
retary of Commerce.
Argentine Mission.
The Argentine delegation includes
Edgardo Grumhach, chief Of the Gen.
tral Banks foreign exchange depart
ment, and Roberto A. verrier, chief Of
the economic study department. They
are accompanied by Christian M. Ravn-
dal, Second Secretary of the United
States Embassy. The Argentine govern
ment dispatched the mission imme-
diately after President Roosevelt's re-
election. which, it was felt, assured
continuation of the good neighbor
policy and close economic cooperation
with Latin America. The United States
election served in Argentina as go"
signal for launching the Pinedo plan to
overcome the adverse effects of loss Of
the European market.
At the same time, however, the Min
lister of Finance announced, on Novem-
Der 6 following cabinet meeting. that
all the ministers had given provisional
approval to plan to restrict imports
from the United States to vitality needed
articles in order to check the export Of
gold. He stated that such restrictions
would be put into effect only if other
measures failed to solve the country's
foreign trade problem. The restrictive
program, he said, was intended to re-
activate the Argentine economy.
There has been favorable reaction In
Argentina. it is reported, to the new War
Department policy of suspending re-
quirements that only domestic wool be
used for clothing and blankets for the
United States Army. The quartermaster
general has been authorized to cali for
bids on such supplies manufactured from
foreign as well as domestic wool, and 1t
was hoped that increased purchases. from
the Southern Argentine sheep country
might result.
Foreign Exchange.
The arrival in Washington of the
Argentine delegation in id-November
was the signal for an announcement
from Buenos Aires that the Ministry Of
Finance again has relaxed its foreign
exchange restrictions against the United
States and has authorized the Foreign
Exchange Control Board to issue $780,
900 worth of permits for automobiles,
trucks and spare parts, to be imported
from the United States. Argentine ex-
ports showed a decline to S312,30O, 900
during the first 10 months of 1910 from
total of 1922 100, 900 for the same period
last year, exclusive of gold exports.
In the meantime, however, other
plans are being considered, both here
and in Argentina, for improving bilateral
trade and general relations DR.. Nor
decai Ezekiel, Department of Agriculture
economic adviser, said recently that
modification OF laws to permit entry of
Argentine beef into the United States,
as recommended in sanitary convention
findings now pending before Congress.
would not constitute any threat to the
cattle industry OF this country. The
total present export of beef to the United
States from those portions of the Argen-
tine free from disease is only 1000
pounds of fresh meat and $1,000 pounds
of preserved meat year, he said.
Argentina, Brazil and Chile are the
three principal military powers in South
(See ARGENTINA, Page C-3)