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 between the ships of the two countries, provided that the shipping space required is obtainable at reasonable rates. Consultation for the purpose of giving effect to this Article shall be between the Board of Trade and the Maritime Commission. ARTICLE 7. Should the United States Government, before the delivery is completed of the cotton provided for in Article 1 of this Agreement, take any action which has the effect of an export subsidy, they will deliver to the Government of the United Kingdom an additional quantity of cotton proportionate to the reduction in price below that provided for in Article 1 of this Agreement caused by such action. ARTICL 8. The present Agreement shall come into force on a date to be agreed upon between the two Governments. In witness whereof the Undersigned, duly authorised thereto, have signed the present Agreement and have affixed thereto their seals. Done in London in duplicate this 23rd day of June, 1939. [SEAL] JOSEPH P. KENNEDY [SEAL] OLivER F. G. STANLET AND WEmREAS the said agreement has been duly ratified on the part of the Government of the United States of America and its in- strument of ratification was deposited with the Government of the United Kingdom at London on the twenty-fifth day of August, one thousand nine hundred and thirty-nine; Action by. S. hav- Lng effect of export mubsidy on cotton. Date of coming Into force. Post, p. 1416. Signatures. Batification. Date of coming into AND wHEREAs the said agreement was put into force, in accordance force. Post, p. 141. with Article 8 thereof, on August 25, 1939 by an exchange of notes at London on that day; Proclamation. Now, THEREFORE, be it known that I, Franklin D. Roosevelt, Presi- dent of the United States of America, have caused the said agreement to be made public to the end that the same and every article and clause thereof may be observed and fulfilled with good faith by the United States of America and the citizens thereof. IN TESTIMONY WnEREO, I have hereunto set my hand and caused the Seal of the United States of America to be affixed. DoNE at the city of Washington this sixth day of September in the year of our Lord one thousand nine hundred and [sEAL] thirty-nine and of the Independence of the United States of America the one hundred and sixty-fourth. By the President: CoeDELLy HoIt Secretary of State. FRANKLIN D ROOSEVELT 1414 TREATIES [54 STAT.

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