1577 58 STAT.] VENEZUELA-RUBBER PRODUCTION-OCT. 13 , 1942 The American Ambassador to the Venezuelan Minister for Foreign Affairs EMBASSY OF THE UNITED STATES OF AMERICA No. 1069 CARACAS, October 13, 1942. EXCELLENCY: I have the honor to acknowledge the receipt of Your Excellency's note of today's date and, authorized by my Government, to record in this note that as a result of the conversations between Your Excellency and the undersigned, it has been agreed between the Government of the United States of America and the Government of the United States of Venezuela that: First: The Government of the United States of America, by means Agbncy in ene2uel. of its dependency the Rubber Reserve Company, which hereafter will be called Reserve, agrees in establishing or having established in Vene- zuela an Agency which henceforth will be called Agency, which will be authorized to cooperate in the development of rubber production in Venezuela, as well as to acquire in the Territory of the Republic all grades of rubber which are produced in Venezuela and rubber products manufactured from national raw material, as long as the rubber produced or the products manufactured with the latter are not essential to the internal needs of the country, in accordance with the stipulations in the present modus vivendi. To such an end, the Govern- ment of the United States of Venezuela agrees that the Agency will enjoy all the facilities required in the due fulfillment of its functions. Second: The Government of the United States of Venezuela, Exportofrubber. taking into consideration that the rubber exported through Reserve will go entirely to the United States of America, a country in need of great quantities of the said product for the purposes of Hemispheric defense, agrees to grant the Agency the exclusive right to export, once the requirements of internal national consumption are met, the rubber that is produced in Venezuela and the manufactured rubber existent in the Republic. To this end and in conformity with the dispositions of Article 2 of the Presidential Decree No. 235 dated October 9, 1942, the Federal Executive, through the appropriate Ministry will designate Reserve as the entity which will have the exclusive right to the ex- Conservation of portation of rubber. The Government of the United States of Vene- rubber. zuela also binds itself to take adequate measures towards the con- servation of rubber so that it may be destined to essential uses of Hemispheric defense or uses indispensable to the maintenance and upkeep of transportation within the country. Furthermore, the Government of the United States of Venezuela will take the necessary measures to prevent the hoarding of rubber or its products. re o mbbe Third: The Government of the United States of America binds and rbber produc itself to have the Reserve Agency buy and, on its part, the Govern- ment of the United States of Venezuela binds itself to sell and to cause to be sold to the Agency all the rubber and all the rubber products available in the Territory of the Republic and which are not needed for the use or internal consumption of Venezuela. To this
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