Memorandum by the Chief of the Division of Latin American Affairs (Wilson)

Mr. Kent telephoned from New York regarding the Brazilian proposal for servicing Brazil’s foreign debts and read to me an extract from a letter he had written last week to the Brazilian Minister of Finance. In this letter Mr. Kent expressed the view that the American loans (federal) in group three really should be in group one, since these loans had been included in the 1931 funding plan. As group one provides for full service covering both interest and sinking fund, and group three provides for only partial service, he felt there was an element of discrimination against the American issues.

I asked Mr. Kent if he would send me a copy of that portion of his letter dealing with this matter and he said he would.59

Edwin C. Wilson
  1. Letter not printed.