893.51/6439
Memorandum by the Chief of the Division of Far Eastern Affairs (Hornbeck) to the Secretary of State
Mr. Secretary: It will be noted from the attached memorandum under date August 6, addressed to me by Mr. Warren Pierson,97 that a meeting of the Executive Committee of the Export-Import Bank is to take place on Wednesday, August 11, with a view to arriving at a decision in regard to the extension of credits totalling United States dollars ten million as set forth in the statement97 attached to the Chinese Ambassador’s memorandum of August 5 addressed to Mr. Pierson (attached hereunder).
FE perceives no objection to the extension of the credits under reference—in fact, suggests prompt and favorable action in regard thereto—provided the Export-Import Bank is satisfied that the transactions under contemplation are sound from a business point of view.
Would you kindly indicate your wishes in regard to the foregoing, in order that FE may, if you so desire, inform Mr. Pierson on his return to Washington tomorrow evening, August 10, of the Department’s views on the matter.98