The Secretary of State to the Ambassador in France (Caffery)
1584. For Ambassador and Merchant. Discussions to date with French and analysis of their figures leave no doubt of very substantial French needs. Despite extensive needs, it is impossible to go to Congress for special loan to France. Moreover, Export-Import Bank funds very limited and amount available from that source may not exceed half billion.
Department appreciates importance cf having Blum Mission return to France with appearance of substantial success (re your tel 1595 of April 4). Consequently all possible steps will be taken to enable showing billion dollar or slightly greater credit. It would appear that this could be accomplished by combination of Export-Import Bank loan, funding of Plan A and other current dollar obligations on 3(c) or similar terms, large surplus property credit, and arrangements for shipping tonnage on credit terms.
Will keep you advised of developments along this line. In meantime your comments will be appreciated.