Foreign Relations of the United States: Diplomatic Papers, 1944, The American Republics, Volume VII

811.516 Export-Import Bank/984

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

No. 3305

Washington, June 13, 1944.

Reference is made to your airgram no. A–1173 of May 31, 1944, with reference to the $25,000,000 line of credit of the Export-Import Bank. There are transmitted a letter dated June 6, and its enclosure from Mr. Warren Lee Pierson,⁶ President of the Export-Import Bank, explaining, among other things, the position of the bank in connection with certain provisions of the amendatory agreement and the inadvertent delay in making the text available to the Department.

Both the Department and the Export-Import Bank favor a cancellation of the credit for reasons that have already been made clear. In order to facilitate early consideration of its possible termination, it is suggested that, in your discretion, you discuss the matter discreetly and informally with Dr. Grau San Martín, President-elect, to ascertain whether he concurs with the views of this Government and whether he would be disposed to have the credit terminated at an early date.

If Dr. Grau agrees that the credit should be terminated shortly, you may then wish to approach the appropriate officials of the Cuban Government expressing the hope that a representative may be able to proceed to Washington in the near future to continue the discussions which were initiated in April with Dr. García Montes, looking to the possibility of reaching a mutually satisfactory agreement with the Cuban Government for the termination of the credit. While he was in Washington, Dr. García Montes indicated that he expected to return here this month and both the Department and the bank understood that the Cuban Government had every intention of resuming discussions of the credit.

The Department, of course, does not wish to have this matter become involved in Cuban domestic politics and it would appreciate receiving your complete reports if any such tendency comes to light.

Very truly yours,

For the Secretary of State:

Dean Acheson

6. Letter dated June 6 addressed to Ambassador Braden by Mr. Pierson and enclosed memorandum of June 3 by Mr. LeBaron; neither printed.