841.24/1738
The United Kingdom Treasury Representative, British Supply Council (Phillips) to the Assistant Secretary of State (Acheson)
Dear Mr. Acheson: I was informed some days ago by the Treasury that it was the intention of the United States Government so to regulate the administration of Lend Lease as to insure that our gold and dollar balances did not rise above $1000 million or fall below $600 million. We have not so far had an opportunity of discussing this policy with the interested Departments of the United States Government. The Chancellor67 has asked me to represent that no announcement of any such policy should be made to Congress until it has been discussed between us and is a matter of common agreement. I believe, in fact, that it is not the Treasury’s intention to announce this policy.
I have already written on this subject to Mr. Stettinius and Mr. Bell, but as I understand that you are about to give evidence before the Congressional Committee on the Lend Lease Bill,68 I am taking this opportunity of conveying the Chancellor’s request to you also.69
Yours sincerely,
- Sir Kingsley Wood, British Chancellor of the Exchequer.↩
- Assistant Secretary of State Acheson made statements on behalf of extension of the Lend-Lease Act of March 11, 1941, on February 3 and 4, 1943, before the Committee on Foreign Affairs of the House of Representatives. For texts, see Extension of Lend-Lease Act; Hearings Before the House Committee on Foreign Affairs, 78th Cong., 1st sess., on H. R. 1501, pp. 81–135.↩
- Marginal notation reads: “I spoke to Sir Frederick [Phillips] in person D[ean] A[cheson]”.↩