The Under Secretary of State (Welles) to the Deputy Federal Loan Administrator (Clayton)

My Dear Mr. Clayton: I acknowledge the receipt of your letter of May 12, 1941 enclosing a draft of resolution of the Export-Import Bank authorizing credits of $6,000,000 to the Republic of Colombia and suggesting certain existing economic problems which should be worked out in connection with carrying on this development credit.

These matters have been the subject of considerable discussion between the Department, Ambassador Braden, and officials of the Federal Loan Agency, and Ambassador Braden has indicated his desire to proceed informally to work out these matters with the Colombian authorities. I am, accordingly, making available copies of your letter and the resolution to Ambassador Braden at Bogotá for action.

I wish to take this opportunity to express my appreciation for the prompt attention and splendid cooperation which you and the Federal Loan Agency have given in connection with recent requests for financial assistance made by the Governments of Colombia, Cuba94 and Haiti.95

Sincerely yours,

Sumner Welles
  1. See pp. 127 ff.
  2. See pp. 322 ff.