837.51 Cooperation Program/9

The Under Secretary of State (Welles) to the Secretary of the Treasury (Morgenthau)

My Dear Mr. Secretary: I refer to the Secretary’s letter of October 4, 1940 informing you of the visit of a Cuban economic mission, and conversations on this subject between officers of the Department and officers of the Treasury Department. I received the Cuban group formally yesterday and at that time its chairman, the Cuban Ambassador, informed me that by the end of the week there would be submitted a comprehensive statement of the purposes of the mission and the types of financial and technical cooperation which it desired to discuss. Pending the receipt of such a statement and before entering into technical discussions with the several members of the economic mission, I believe that it would be appropriate for you to receive the group formally.

With the idea of laying out a program for discussions between the Cuban group and the interested agencies of this Government I am arranging for a meeting at my office on Monday, October 14 at eleven o’clock of the members of the Cuban economic mission and officers of this Department and of the Departments of the Treasury and Agriculture, the Export-Import Bank, and the Federal Reserve System,80 [Page 783] who will carry on the detailed discussions. I should greatly appreciate your designating one or more officials to attend this preliminary meeting.

Sincerely yours,

Sumner Welles

[On October 14 the Cuban Ambassador transmitted to the Under Secretary of State a translation of a “Statement of the Plan of Operation with regard to the Proposed $50,000,000.00 Loan” presented by the Cuban Technical Committee. This document consisted of 111 mimeographed pages with chapters on the need for covering the 1940 budget and probable deficit for 1941, tourist development and publicity, communications and public health. (837.51/2688)]

  1. Similar letters were sent to these organizations.