Memorandum of Conversation, by the Secretary of State

Mr. van den Broek, Minister of Finance of the Netherlands, and Baron W. van Boetzelaer, the Chargé d’Affaires, called at their request.

Minister Broek took up the question of a proposed loan in the amount of $300,000,000 by this Government to the Netherlands Government primarily for post-war purposes. I interrupted him to say that, while this Department was preparing a complete statement with respect to the assets, et cetera, of the Netherlands Government in this country, it was my opinion that the State Department has no real function in determining the new policy involved in the proposal of making post-war loans by this Government to other governments, adding that this is a matter for the Treasury Department, the President and the Reconstruction Finance Corporation officials to decide. I said that the State Department might probably be invited to attend the conferences held for such purpose in the event that, if any phase of foreign policy should be involved, even to a minor and limited extent, it could be presented by the State Department. I also said that the President was leaving today for a week of rest. Minister Broek said that he would remain instead of returning to London.

C[ordell] H[ull]