833.51/922: Telegram
The Acting Secretary of State to the Minister in Uruguay ( Wilson )
97. Your 181, August 10, 10 a.m.25 Legislation now before the Congress for the amplification of the operations of the Export-Import Bank would permit the Bank to extend credits in connection with the purchase of armaments by the other American republics. The bill has already been reported favorably by the Senate Banking and Currency Committee, and is now in hearings in the House. Mr. Jesse Jones,26 in his testimony has made it clear that modest credits for these purposes would be made. If such legislation is enacted27 the Department and the Export-Import Bank will be prepared to consider any request of the Uruguayan Government for credits for armament purposes. The Uruguayan Minister in Washington is fully acquainted with the Department’s attitude in the matter.