800.6854/184: Telegram
The Chargé in the United Kingdom (Johnson) to the Secretary of State
[Received December 1—11:30 a.m.]
2504. Department’s 1525, November 29.
1. Todd’s statistics given in Department’s above instruction sent in the form of a memorandum to Colonial Offices on November 30.
[Page 946]In long discussion on tin situation, also held with Campbell yesterday, Todd’s statistics brought to his attention orally.
2. In reply to the Department’s query whether offerings on Straits or Straits’ shipments were below normal Campbell merely drew attention to the “record total of 20,350 tons” afloat to the United States on October 31 and remarked that if all that tin is coming out there was nothing wrong with the offerings. His attitude was that in view of the very large quantity of tin on its way to America there could be no question of any hold-up.
3. In regard to smelter production Campbell drew attention to the October figures for smelter stocks which were the lowest in 2 years and which he maintained precluded any possibility of bottleneck at the smelters.
Campbell utilized the interview to deliver himself of a long monologue which in essence was a diatribe against what he described as the mad buying policy of the American consuming interests who he declared would in a few months find themselves stuck with excessive inventories purchased at abstracted prices. As he puts it “The Lord knows why you wanted this tin but having [have] it you will and you will have to take the consequences.”
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Press comments on tin meeting today draw attention to Britain’s strengthened position with reference to this metal as United Kingdom and Straits before war responsible for about 64% of world’s smelter output whereas the percentage now is 80 to 85%.