File No. 865.51/13
The Ambassador in Italy ( Page) to the Secretary of State
[Received April 7, 5.15 a.m.]
901. My No. 897 (879?), March 23. Received calls from Minister Finance, Director Stringher of Bank of Italy and secretary of Minister for Foreign Affairs regarding loan. Stringher’s memorandum, supported by Government, I understand, states that Italy particularly desires to participate in financial loan to Allies but directly with America not through Great Britain or France; further it is desired Federal Reserve Board enter into negotiations with Bank of (Italy?) with Bank of England and Bank of France; asks if Federal Government or group of banks will control financial arrangements; feels that it is necessary American Government support agreement; transaction would be secured by Italian Treasury bills payable in dollars both capital and interest. Bills might be due in six months for facilitating negotiations in United States. Bills renewable every six months with engagement to withdraw them six months after peace by periodical installments if longer arrangement not possible.