1488 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [52 STAT. Unidos, tan pronto como le sea posible, para la renovaci6n o reposici6n de las estipulaciones de los mencionados Articulos del Tratado Comer- cial de 11 de marzo de 1936. Aprovecho la oportunidad para reiterar a Vuestra Excelencia el testimonio de mi consideraci6n alta y distinguida. M. CORDERO REYES Excelentisimo Senior BOAZ W. LONG, Enviado Extraordinarioy Ministro Plenipotenciario de los Estados Unidos de America, Managua, D. N. [Translation] MINISTRY FOR FOREIGN AFFAIRS DIPLOMATIC SECTION No. 8 -38 sk MANAGUA, D. N., February8, 1938. MR. MINISTER: I have the honor to refer to the recent conversations had with regard to the desire of the Government of Nicaragua that the trade agree- ment between the Republic of Nicaragua and the United States of America signed at Managua on March 11, 1936, be modified in cer- tain respects on account of the grave emergency financial conditions which it is obliged to face at the present time. I now have the honor to confirm and make of record by means of the present note, the agreement which, as a result of the conversations referred to, has been reached between the Government of Nicaragua and the Government of the United States, that the provisions of article I, those of the first paragraph of article II and those of article III (except insofar as relates to note 1 to schedule I appended to the agreement) and those of article V of the said agreement of March 11, 1936, shall cease to be in force and to have effect from the tenth day of March of the current year, inclusive, forward. Furthermore, I have the honor to confirm that while the rate of exchange between the paper cordoba and the gold cordoba will be increased for purposes of collection of customs duties, the Govern- ment of Nicaragua does not in reality contemplate an increase in the basic duties specified in schedule I of the said trade agreement. I have the satisfaction of adding that the Government of Nicaragua will be pleased to reopen negotiations with the Government of the United States, as soon as it is possible, for the renewal or replacement of the above-mentioned articles of the trade agreement of March 11, 1936. I avail myself of the opportunity to renew to Your Excellency the assurance of my highest esteem and distinguished consideration. M. CORDERO REYES His Excellency Mr. BOAZ W. LONG, Envoy Extraordinary and Minister Plenipotentiary of the United States of America, Managua, D. N.
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