841.51/12–347: Telegram
The Acting Secretary of State to the Embassy in the United Kingdom
5072. Secretary Snyder, accompanied by Ness and Gross of Department, appeared this morning before Senate Banking and Currency Committee and discussed U.S. interest in release of $400 million balance U.K. loan. Statement generally followed lines discussed with Douglas when he was in Washington.
Committee members asked numerous questions but attitude was friendly throughout and it was indicated by Chairman Tobey at end of meeting that there was no objection to the proposed action.
Snyder and State representatives also called on Congressman Wolcott, Chairman House Committee on Banking and Currency. Wolcott personally favorable but wishes explore matter further. Snyder expressed hope he might obtain definite clearance from Wolcott within next few days.
Will report further developments.