No. 854
The Director of the Office of Financial and Development Policy ( Collado ) to the Assistant Secretary of State ( Clayton ) and the Secretary of State

War Department Responsibility for German Interim Financing

On July 5 the Secretary transmitted a memorandum1 to the President, a copy of which is attached, outlining policy agreed in Washington for U. S. participation in German interim financing. The short annex2 included in the German political and economic policy directive put forward yesterday by the President3 follows this line exactly.
It is essential that responsibility be clearly fixed upon one U. S. Agency for all U. S. financing with respect to all imports into Germany for which the Government of the United States assumes responsibility. The memorandum of July 5 recommends that the responsibility be placed upon the War Department.
No reply has been received from the President. Since problems relating to responsibility for financing certain types of imports into the U. S. Zone have already arisen, and the necessity for handling the United States’ share of any combined financing should soon arise if the President’s proposals are adopted, it is important that an early decision be sought.
E[milio] G C[ollado]
  1. document No. 346, printed in vol. i .
  2. document No. 348, printed in vol. i .
  3. The reference is to document No. 852, which Truman introduced at the First Plenary Meeting, July 17. See ante, p. 52. Collado’s memorandum is the only indication found that the United States Delegation paper entitled “German Import Program” (see vol. i, document No. 348) was annexed to the proposal put forward by Truman at that meeting.
  4. On the original Collado’s initials appear at the head of the memorandum.