stefansson-wrangel-09-35-028-002

present conditions the Americans would feel constrained to surrender their claims also. ARBITRATION. I understand 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 (Russia)|Wrangel Island]], we could safely submit the matter to an International Court of Arbitration. IMMEDIATE INTRINSIC VALUE OF [[Wrangel Island (Russia)|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 (Russia)|Siberia]] from [[Kamchatka Peninsula (Russia)|Kamtchatka]] east and round the coast towards the [[Kolyma River (Russia)|Kolyma River]]. I have discussed with them whether they would care also to lease [[Wrangel Island (Russia)|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 occupation 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 (Russia)|Wrangel Island]] in case the [[Hudson's Bay Company]] should not care to do so. 2.