ADDENDUM TO MEMORANDUM ON PROPOSED GERMAN COTTON DEAl    
 
 
 
1. Brief Summary of Proposed Plan.
 
 
The German Import Company agrees that the purchase
prlce of the cotton acquired in the United States under 
the proposed plan shall be the domestic market price plus 
a premium of 22-1/2 percent. The German Import Company 
agrees that the purchase price shall be payable in the 
following manner: (a) 125 percent of the purchase price 
shall be paid in United States dollars; and (b) 75 percent 
of the purohase price shall be paid in terms of reichsmarks 
computed at the official rate of $.4033.
 
 
The German Import Company agrees to deposit to the
credit of the Export-Import Bank relchsmarks covering 7.5 
percent of the purchase price. The Export-Import Bank intends 
to convert the reichsmarks thus received into United States 
dollars for the benefit of American cotton exporters.
 
 
This conversion would be accomplished in the following 
manner: In the first instance, the German Import Company 
agrees to deposit 1;o the credit of the Export-Import Bank 
1,000,000 reichsmarks. The Export-Import Bank would sell 
these reichsmarks to American Importers for use exclusively 
in payment of German products imported into the United States. 
The Export-Import Bank may sell these reichs-
 
 
marks