832.5151/754: Telegram
The Secretary of State to the Chargé in Brazil (Frost)
190. Your 299, November 19, 6 p.m. Endeavor to obtain the elimination from the Enabling Act, Article 1, of the phrase “with the Government of the United States of America.” The phrase is apparently a limitation on the grant of power and is inconsistent with the actual procedure. This Government does not desire to negotiate an agreement as indicated. It is in fact understood that Funding Agreement has practically been negotiated by the Brazilian Government with the National Foreign Trade Council (acting on behalf of such creditors as shall by acceptance of its terms become parties thereto). The Council has applied to the Export-Import Bank for a commitment to participate in the financing of notes issued under the Funding Agreement and the Bank yesterday announced the matter and the extent to which it would agree to such participation.