stefansson-wrangel-09-35-028-002

present conditions the Americans would feel constrained
to surrender their claims also.

ARBITRATION.

I underdstand that study by the experts of the
various Government Departments has confirmed my
original contention that our legal rights to the
Island are stronger than those of any other country.
I want, therefore, to suggest again that in case
other countries protest, on alleged grounds of legal
right, against our retention of Wrangel Island, we
could safely submit the matter to an International
Court of Arbitration.

IMMEDIATE INTRINSIC VALUE OF WRANGEL ISLAND AND
FEASIBILITY OF DEVELOPMENT THROUGH LEASE

The Hudson's Bay Company have, I understand, a
lease from the Soviet Government for the corner of
Siberia from Kamtchatka east and round the coast
towards the Kolyma River. I have discussed with
them whether they would care also to lease Wrangel
Island, ([distant]- 100 miles from the Soviet lease) and find that they would like to consider
doing so, actual action depending on the terms of
the lease. Leasing the Island will provide a
form of continuous occumpation without any expense to
the Government, and even, if desired, giving a
slight income. I know of ther companies which
would be glad to lease Wrangel Island in case the
Hudson's Bay Company should not care to do so.

2.