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895.10/2–2150: Telegram

The Chargé in Korea ( Drumright ) to the Secretary of State

confidential

228. This joint State-ECA message. Bunce and I called on President Rhee this afternoon and orally conveyed to him substance Deptel 145 February 14; left with him for study paraphrase of main points of reftel.

Rhee received message in extraordinarily good heart and gave assurances that he is with us 100 percent in seeking measures to curb inflation.

Opportunity was taken during conversation which lasted more than hour to discuss a number of factors affecting Korean financial situation, especially shaping up of 1951 budget, reduction of military expenditures, etc. Bunce filled Rhee in on recent activities of Joint Stabilization [Page 30]Committee and urged that Rhee carefully consider its findings and recommendations. Rhee promised to do so.

Drumright