821.51/2670: Telegram

The Ambassador in Colombia (Braden) to the Secretary of State

578. My telegram No. 574. Revised budget for the year 1942 is now being considered by joint Senate and House committees and is [Page 80] generally expected to be approved including article 17 which provides authorization for the Government to settle the group loan at an interest rate no higher than 3%, amortization during 1942 not to exceed $200,000 and that the period for total amortization shall not be less than 10 years.

This would appear to make possible some such arrangement as mentioned in paragraph 3 of my telegram number 546, November 10, 10 p.m. and which judging by personal letter dated November 5 I have received from Rentschler of National City Bank, would be satisfactory to the group.