UNITED STATES AND MEXICO
•OIL LANDS DISPUTE SETTLED SIX-POINT AGREEMENT SIGNED (Received November 21, 7 p.m.) WASHINGTON, November 20. The United States and Mexico have signed a six-point agreement settling the oil land expropriations. The United States Secretary of State (Mr Cordell Hull) hails it as a milestone in the cause of solidarity. The agreement provides for; (1) The appointment of an expert by each Government to determine the amount of compensation Mexico will pay the American oil companies, with Mexico depositing 9,000,000 dollars on account immediately. (2) Payment by Mexico of 40,000,000 dollars to settle outstanding property claims, most of which are payable in annual instalments of 2,500,000 dollars. (3) The United States and Mexico to negotiate a reciprocal trade agreement. , (4) A currency stabilisation agreement under which 40,000,000 dollars is available to the Banco de Mexico for stabilisation of the peso. (5) The American Treasury to purchase 6,000,000 ounces of Mexican silver a month. (6) The establishment of a 30,000,000dollar credit by the Export and Import Bank to aid Mexico in constructing and developing highways, including sections of the inter-American highway.
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Press, Volume LXXVII, Issue 23493, 22 November 1941, Page 3
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183UNITED STATES AND MEXICO Press, Volume LXXVII, Issue 23493, 22 November 1941, Page 3
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