860d.51/l–1446: Telegram

The Secretary of State to the Chargé in Finland (Hulley)

secret   us urgent

15. Deptel 218 Dec 12,2 urtel 40, Jan 14.3 Ex-Im Bank has approved 35 million dollar credit to Finland.4 Dept has weighed considerations mentioned in your 768, Dec 14,3 but in view of indefinite duration of trials5 and of uncertainty as to atmosphere which will prevail at their conclusion, does not feel that delay in announcement of credit is advisable.

You are instructed to inform Finnish authorities of Ex-Im Bank action. In doing so, you should carefully emphasize that the credit has no political implications but has been granted entirely on the basis economic considerations, and within the framework of our policy which you have repeatedly stressed to Finns that we do not propose to contribute directly or indirectly to reparations payment by Finland; that the purpose of the credit is to facilitate the resumption of US-Finnish trade within the foreseeable area of such trade; that in this connection account has been taken of Finnish reparations and other export commitments affecting the volume of Finnish exports available for US markets, transportation difficulties, and other factors which will limit the amount of US–Finnish trade during the coming months.

Eximbank announcing to press for immediate release.

  1. Foreign Relations, 1945, vol. iv, p. 659.
  2. Not printed.
  3. The Board of Directors of the Bank approved the credit to Finland on January 16, 1946, and the agreement was signed on February 1 establishing this line of credit to finance the acquisition of United States products and services.
  4. Not printed.
  5. The Finnish War Criminals Trial.