Magazine content is available exclusively for TIME subscribers.FOREIGN RELATIONS: Millions for Defense
The new trade accord with Mexico which the State Department has been negotiating for months was all ready to be signed and sealed. Then Standard Oil heaved a derrick in the works. One hinge on which the agreement turned was that U.S. oil companies accept a settlement for their Mexican properties, which were expropriated in 1938. Standard Oil refused to settle (see p. 83).
Oil is a minor obstacle holding up the trade accord, which is designed to bring economic harmony between Mexico and the U.S., pave the way for a mutual-defense pact. In Washington last week suave, tall...
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