Editorial Note
An important area of agreement was reached between the United States and the United Nations in March 1948 with the conclusion of the negotiation providing for the financing of the building and furnishing of the permanent United Nations headquarters facilities in New York City. The essential provision was the granting of an interest-free loan of $65,000,000 by the United States to the United Nations, to be repaid in annual installments over a period of thirty years extending from 1951 to 1982.
Agreement as to broad principles and many details had been reached by this Government and the United Nations by the end of 1947 (see Foreign Relations, 1947, volume I, page 75; and final details were worked out early in 1948. On March 23, 1948 the agreement was signed by Ambassador Warren R. Austin, United States Representative at the United Nations, and Mr. Trygve Lie, Secretary-General of the United Nations, subject to the approval of the United States Congress. For text, see 62 Stat. (pt. 3) 3725 and Treaties and Other International Acts Series (TIAS) No. 1899.
On April 7, 1948 the Agreement was transmitted by President Truman to the Congress, with a strong message asking for approval. Bills were introduced separately in the two Houses, and the Senate took favorable action on May 7 (S.J. 212). But action in the House of Representatives became snarled in the omnibus bill (H.R. 6802). The [Page 88] House finally on August 5 accepted the Senate bill, S.J. 212, in the reconvened session of the Congress which met on July 26. On approval by the President on August 11 this legislation became Public Law 903; for text of the joint resolution with provisions of the agreement, see 62 Stat. 1286.
The United States Administration had been most anxious that the loan agreement receive approval before the Congress adjourned; and this was one of three actions specifically requested by President Truman in his message to the reconvened session on July 27; for text of the President’s Message, see Department of State Bulletin, August 8, 1948, page 185. On the occasion of his approval on August 11, President Truman issued a statement expressing his deep gratification that the Congress had completed action “on this important measure”, declaring that “The loan demonstrates our faith in the future of the United Nations . . . . it is another example of the solidarity of the American people in behalf of our national policy of strengthening the United Nations and the cause of world peace and security for which it stands.” (ibid., August 22, 1948, page 235)