April 21, 1937
 
 
CONFIDENTIAL MEMORANDUM FOR
 
THE SECRETARY OF STATE
 
 
I have read Dodd's letter with much interest. 
 
 
I am especially concerned with the possibility,
even though it may not be a probability, that German
food supplies will call for even more imports and
that the damage for certain other raw materials
like copper, steel billets and scrap steel will continue,
thus forcing up our price level unduly and                                                       
perhaps even causing an actual shortage in the
supply for domestic consumption.
 
 
This makes it opportune for us to start an
immediate study of the subject of embargoes on 
certain materials, such embargoes to be put into 
effect by Executive Order, by hearings, which seem 
the simplest way.
 
 
Will you, therefore, undertake this study
joining to yourself such other persons from your
own and other Departments as you may desire. For
example, Henry Grady, as a member of the U.S.
Tariff Commission, would be valuable and you would
probably want someone from Commerce, Agriculture,
Bureau of Mines and Central Statistical Board.
 
 
FDR
 
 
Enclosure        fdr/tmb
Returning to Sec. Hull let. addressed to him from Ambassador 
William E. Dodd, Berlin, Germany, 4/5/37 re situation there.