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U.S. Aides Shy at Barter Pact with Germany

Negotiations leading to an agreement between the United States and Germany for barter of American surplus cotton in exchange for German goods, being pressed here by a German trade delegation and representatives of the Southern cotton area, today appeared less likely of success than at any time in recent weeks.

Despite the eagerness of George Peek of the Import-Export Bank to find some outlet for the heavy surplus of cotton, such as through the scheme advanced by the German representatives, who offered a market for 750,000 bales of cotton in exchange for an outlet here for the equivalent in German products, the official attitude generally was one of hesitancy regarding the project.

One of the chief obstacles to the proposal is that there are practically no German products that could be thrown on the American market under the deal which would not compete with American wares.

Another factor is a certain unwillingness for further commercial agreements with Germany in view of her renunciation of the “most

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