Cablegram unnumbered LONDON, 25 May 1938, 7.00 p.m.
We have considered your telegram 25th May  containing text of
letter received from the Japanese Consul-General  on the
question of the iron ore embargo. We think that reply should not
go into detailed explanation but should be limited to essential
points. We suggest reply in the following terms:-
(1) This decision has been taken solely on the grounds of our
national requirements and it is not to be regarded as being
discriminatory against any country.
(2) That the Government of any country must accept the
responsibility of deciding what its own national requirements are
and that this fact is universally recognised internationally.
(3) To the extent that any individual Japanese interests are
affected by the decision an offer of compensation has been made
and is repeated.