File No. 861.00/2719

The Ambassador in Great Britain (Page) to the Secretary of State


1961. Leffingwell1 from Crosby:2

[Page 69]

535. French finance agent has unofficially presented plan being discussed by his Government for establishment of an inter-Allied bank which is to receive the obligations of Allied Governments or other assets supplied by them and against these to issue special currency denominated in rubles, which by presumption will be accepted in Russia in payment for supplies and services by Allied and American troops operating there. Great difficulty is reported in respect to these payments now. Please advise whether our own operations are successfully covered and whether in general the proposition above outlined is considered of interest to our Government.

  1. Russell C. Leffingwell, Assistant Secretary of the Treasury.
  2. Oscar T. Crosby, delegate of the Treasury to the Inter-Allied Council on War Purchases and Finance.