Department of State National Advisory Council Files

The Chairman of the National Advisory Council (Vinson) to President Truman 43

My Dear Mr. President: The National Advisory Council on International Monetary and Financial Problems herewith submits a “Statement of the Foreign Loan Policy of the United States Government” together with an appended table showing loan authorizations by the Export-Import Bank.44 This statement is submitted for your consideration and approval.

Since the organization of the Council in August 1945 it has been coordinating, as directed by law, the policies and operations of all governmental agencies which deal with foreign financial transactions.

At an early date the Council undertook to consider proposals and applications for foreign loans, and to study the problems and broad implications of foreign lending. The Statement which is now submitted to you is an outgrowth of these activities of the Council and represents our present views. The Council will continue to study these matters and will report further to you as the rapidly changing conditions at home and abroad may require.

Faithfully yours,

Fred M. Vinson
  1. This letter and an attached draft policy statement and draft presidential message to Congress constitute document 70–A in the NAC files; attachments are not printed here; see footnote 44.
  2. The minutes of the 14th meeting of the Council, February 27, 1946, record: “The chairman announced that the President had approved the ‘Statement of the Foreign Loan Policy of the United States Government’” For text of the policy statement and President Truman’s message to the Congress on March 1 transmitting the statement, see Department of State Bulletin, March 10, 1946, pp. 380 ff., or 79th Congress, 2nd Session, House Document No. 489.