Memorandum by the Acting Secretary of State


Meeting With President, June 7, 1949

export-import bank loan to spain

The President approved the attached cable clarifying the attitude of this Government with respect to the Export-Import Bank loan to Spain.1

Very Confidential, for top level officials of the Department. The President is not happy about some of the policy aspects of the Spanish situation and particularly the treatment of certain religious minorities and agrees to our cable because we recommend it, not because he is completely satisfied with the political aspects of the situation.2

James E. Webb
  1. The telegram under reference here (304), sent to Madrid on June 8, read as follows:

    “Pres asked at press conference June 2 whether he favored Ex-Im Bank loan to Spain for purchase US cotton and tobacco. Pres replied he does not favor it.

    “Dept has confirmed Pres statement reflects previously expressed doubts Dept and Bank Spain not good credit risk at present time.”

  2. President Truman’s dissatisfaction with the treatment of religious minorities in Spain was brought to the attention of Secretary Acheson on July 12 (memorandum from Rusk, not printed), and on July 18 he forwarded to the President a statement on the Catholic Church and religious minorities in Spain for background and to keep the President abreast of the most recent developments. Copies of Rusk’s memorandum, and a memorandum from Acheson to the President enclosing the statement are in file 852.404/6–749.