The Ambassador in Colombia (Braden) to the Secretary of State
[Received 11:05 p.m.]
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.