the development of mutually advantageous economic relations between
our two countries.
  Accept [etc.]                                   CORDELL HULL

811.20 Defense (Wool)/669
  The Uruguayan Ambassador (Blanco) to the Secretary of State
                          [Translation] 4a
No. 724/42                       WASHINGTON, November 23, 1942.
C. 59/942
  MR. SECRETARY OF STATE: I have the honor to acknowledge receipt
of Your Excellency's note of today in which you refer to the con-
versations recently held between the representatives of the Govern-
ment of the United States of America and my Government relative
to the unsold part of the 1941-1942 crop of Uruguayan wool and of
the 1942-1943 crop of Uruguayan wool.
  At the same time Your Excellency informs me that an agency of
your Government, the Defense Supplies Corporation, has agreed to
buy Uruguayan wool of these two crops on the terms and conditions
established in the annexed memorandum of the understanding reached
as a result of the conversations mentioned.
  Your Excellency indicates, further, that this agreement will con-
tribute to the stabilization of the economy of Uruguay and will reduce
the disturbances in its economy caused by the demands of the war.
  Reference is also made in Your Excellency's note to the agreement
of both Governments with respect to consultations from time to time
with the double purpose of limiting the wool exports of Uruguay in
such manner that the Uruguayan wool required by the United States
of America for conducting the war may be obtainable for this pur-
pose and may not be obtainable, directly or indirectly, for purposes
detrimental to the conduct of the war.
  Taking note of these declarations, I have the pleasure to express
that the Government of the Republic of Uruguay shares in the state-
ments made and that it believes that the agreement which has been
reached between our Governments substantially broadens the efficacy
of the Resolutions adopted at the Third Meeting of Ministers of
Foreign Relations of the American Republics, held at Rio de Janeiro,
and that it is a forward step in the development of mutually advanta-
geous economic relations between the United States of America and
the Republic of Uruguay.
  I remain [etc.]                                  J. C. BLANCO
  4a Translation supplied by the editors.



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