Editorial Note
On March 2, the Departmental Dollar Working Group (DDG) was established in the Department of State under the chairmanship of the Assistant Secretary of State for Economic Affairs (Thorp), to consider and prepare the State Department positions concerning the overall question of adjusting the balance of payments of the United States (or the problem of the “dollar gap”). It was intended further that the group would perform as a “departmental backstop” for Department of State participants in the interdepartmental machinery which it was then (in March) presumed would be set up to accomplish the task set forth in the Secretary of State’s memorandum of February 16 to President Truman. The DDG was to have a regular membership of representatives from the economic and geographic offices and the Policy Planning Staff. (Lot 122, Box 15559, Folder “DDG Working Papers,” Doc. DDG D–1, March 2, 1950)
[Page 842]On March 31, President Truman designated the Honorable Gordon Gray to be Special Assistant to the President, to undertake the task of advising the President on developing measures to meet the balance-of-payments problem (letter, President Truman to Gordon Gray, March 31, 1950, released at Key West, Florida, April 3). The Department of State understanding of Mr. Gray’s mission was described in an informal memorandum as follows:
“Mr. Gordon Gray has been designated Special Assistant to the President to assist the President in mobilizing and coordinating staff work within the various agencies of the Government looking toward a careful analysis of the various factors bearing on the present disparity between exports and imports.
“The President hopes that, out of these studies and a full public discussion of the issues they reveal, there will be developed, along bipartisan principles, the policies and programs which seem most likely to offer solutions to this urgent problem.” (Informal Management Staff memorandum of about March 29, Lot 122, Box 15559, “DDG Working Papers”)