Ambassador Joe Kennedy, for the U. S., President Oliver Frederick George Stanley of the Board of Trade, for Great Britain, last week signed in London a swap of raw materials which both parties insisted was totally different from the Dictators' market-ruining barter deals in that the U. S. British materials would be stored off the market for seven years, used by the Governments during that time only in case of war. The U. S. got 85,000 tons of rubber, about one-fifth of a peace year's consumption. Britain got 600,000 bales of cotton, almost half as much as she now buys...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!