Trade With Argentina
Trade relations with Argentina are of considerable importance to both countries, and the ban imposed by Senor Miranda on the export of tinned meat and of almost all imports was not to be regarded lightly. Fortunately the tinned meat ban lasted only nine days, and the prohibition of imports, imposed on September 3rd, was in a large measure relaxed on September 18th. There would seem to be an element of the capricious in all this, but the position- created by Britain's declaration of the inconvertibility of sterling raised obvious difficulties in Buenos Aires. The British Ambassador, Sir Reginald Leeper, seems to have succeeded in smoothing away some of them, and the report that an economic delegation is to go out to supplement these conversations by a definite agreement encourages the hope that an arrangement beneficial to both countries may be reached. The negotiations regarding the sale of the British-owned railways are not yet finally concluded, and those regarding the Anglo-Argentine Tramways are in a less advanced stage, but if they go through as expected they will provide substantial funds against which British purchases can be made. The Argentine Government is understood to be standing for a gold guarantee for any payments agreement, and that was presumably discussed at the meeting of the National Economic Council on Tuesday ; but it need not be supposed that the inability of the Treasury to concede this will result in deadlock.
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