President Truman to President Roxas of the Philippines23

Dear Mr. President: It is about a year since we exchanged letters concerning the financial problems of your country and the establishment of a Joint Finance Commission to explore these problems and to make recommendations to our two Governments.24 In the intervening time, the Commission has completed its report25 and the American members have just reported to me personally. I am highly pleased at the Commission’s findings concerning the basically sound financial condition of your country, its great opportunity to achieve rapid economic development and the very substantial progress which your Administration has made in the past year in putting the Government’s finances in order.

The Joint Finance Commission’s report outlines a challenging program of the broadest scope. At the same time, it makes clear the almost unique opportunity which the Philippine economy has over the next few years to forge ahead in its industrial, agricultural and social development. I want you to know that this Government has every hope that your country may succeed fully in achieving this objective. Mr. Snyder, the Chairman of the National Advisory Council on International Monetary and Financial Problems, has advised me of the sympathetic and favorable reaction of the Council to the program. As the Joint Finance Commission report outlines the problem, the job is very largely up to your Government in putting to best use the resources of your country. This will be a task of considerable technical complexity. [Page 1115] If you find that you need technical assistance and wish this Government to furnish it, I hope that you will inform me of your requirements.

I know that it will be a source of the highest personal satisfaction to you and to all who are associated with you to be able to lead in the carrying out of this program which offers such great promise to the Filipino people.

With best wishes for your success, I am

Very sincerely yours,

Harry S. Truman
  1. Transmitted to Manila in instruction 498, August 29, for delivery to President Roxas.
  2. See press release of November 4, 1946, Department of State Bulletin, November 17, 1946, p. 921.
  3. The report of June 7, printed in House document No. 390; for summary, see ibid., July 20, 1947, p. 146.