The Under Secretary of State (Welles) to the Netherlands Ambassador (Loudon)

My Dear Mr. Ambassador: I have given further thought to the question we talked about the other morning with the Minister of Finance. I am confident that a mutually satisfactory way can be found to deal with the prospective financial difficulties which concern your Government.

In order to decide along what course our mutual efforts can most satisfactorily be adjusted, there appears to be a need for a rather thorough-going review of the character of these different needs and of the various liquid assets your Government might be in a position to use to satisfy them. Also, it appears to be necessary to enter in a rather thorough-going way into the advantages and difficulties attendant upon several alternatives that seem worth examination. I have asked the Adviser on International Economic Affairs, Mr. Feis, to hold himself at your disposition to undertake in conjunction with representatives of your Government the necessary discussions and studies on the basis of which I think we could then best resume our discussion. I believe this is the most promising way to proceed, and hope you are agreeable to it.

Sincerely yours,

Sumner Welles