Memorandum by Mr. John C. McClintock, Special Assistant to the Assistant Secretary of State ( Rockefeller )30
I have noted Mr. Atwood’s memorandum of March 23 on the Ecuadoran Development Corporation.
I have discussed this with Mr. Rockefeller who agrees that it is desirable to work out the objectives of both the Ecuadoran and Bolivian Development Corporations in a constructive manner in such a way as to avoid the definite disadvantages which are inherent in the present development corporation set-up as far as United States responsibility is concerned.
Mr. Rockefeller, however, does not wish to see liquidation of these corporations until a constructive proposal has been agreed to involving the sound use of the Export-Import Bank’s credits and designed to achieve the principal objectives for which these credits were established.
- Addressed to Mr. Henry Dearborn of the Division of North and West Coast Affairs; Mr. Louis Joseph Halle, Country Specialist; Mr. Vernon E. Bundy, Chief, Division of Commercial Policy, and to Mr. Wright.↩