Office of the Historian

Lot 60–D 137: Box 1

Minutes of Seventieth Meeting of the National Advisory Council on International Financial and Monetary Problems, Washington, August 12, 1947

Washington, August 12, 1947
[Extract]

present

  • Secretary John W. Snyder (Chairman), Treasury Department
  • Mr. Carroll Perry, Maritime Commission, Visitor
  • Mr. Norman T. Ness, State Department
  • Mr. J. J. Stenger, State Department
  • Secretary W. Averell Harriman, Commerce Department
  • Mr. Thomas C. Blaisdell, Jr., Commerce Department
  • Mr. M. S. Szymczak, Board of Governors, Federal Reserve System
  • Mr. J. Burke Knapp, Board of Governors, Federal Reserve System
  • Mr. William McC. Martin, Jr., Export-Import Bank
  • Mr. Herbert Gaston, Export-Import Bank
  • Mr. Hal Lary, Export-Import Bank
  • Mr. Andrew N. Overby, International Fund
  • Mr. George Luthringer, International Fund
  • Mr. John S. Hooker, International Bank
  • Mr. Frank A. Southard, Jr., Treasury Department
  • Mr. Thomas J. Lynch, Treasury Department
  • Mr. William W. Parsons, Treasury Department
  • Mr. Joseph B. Friedman, Treasury Department
  • Mr. Orvis A. Schmidt, Treasury Department
  • Mr. Lowell M. Pumphrey, Treasury Department
  • Mr. Melville E. Locker, Treasury Department
  • Mr. George H. Willis, Treasury Department
  • Mr. Harold Glasser (Secretary)
  • Mr. Allan J. Fisher (NAC Secretariat)

1. Maritime Commission Ship Sales Credits

. . . . . . .

(c) Italy

Mr. Glasser said that the request was for an increase of credit from $51 million to $68.7 million to permit the Government of Italy to purchase some 15 additional ships. The Staff Committee recommended that the Council express no objection to the increased credit (NAC Document No. 492). The Council approved the recommendation unanimously.

[Page 956]

Action.

The following action was taken:

1.
The National Advisory Council has no objection to consideration by the Maritime Commission of increasing the credit to Italy from $51 million to $68.5 million to provide for the purchase of 119 vessels in lieu of 104 as previously proposed.
2.
The Council approves sending a copy of NAC Document No. 492 to the Chairman of the Maritime Commission.

[Here follow (d) and items 2 and 3.]