The Acting Secretary of State to the Ambassador in Brazil (Caffery)
222. The Federal Loan Administrator has again informed me in the clearest terms that he is waiting only for the arrival of the Brazilian representatives to begin discussion of plans for the construction [Page 609]of the iron and steel plant. There is no intention of limiting any credit that is extended to 5 years.
The Federal Loan Administrator is also prepared to discuss possible plans for iron ore development in Brazil if the Brazilian Government wishes.