Secretary’s Letters, lot 56 D 459, “Humphrey, G.”
The Secretary of the Treasury (Humphrey) to the Secretary of State
Dear Foster: Since writing you with respect to the activities of the Export-Import Bank and the International Bank, I have had a number of conferences concerning the most effective way of using the facilities of the Export-Import Bank. On the basis of these conversations we have revised the memorandum of suggested action for consideration of the NAC, and I enclose herewith a revised draft of it.
I think on this basis of using guaranties, along with a fair equity participation by the borrower, that the Bank can go a good deal further than the first memorandum1 would seem to suggest, and I think we can use the facilities of the Bank without the need for any legislation.
- Reference is to the memorandum dated Jan. 7, 1954, printed as attachment 1 to Secretary Humphrey’s letter of same date, supra.↩
- No attachment was found with the source text; the reference statement is printed as attachment 2 to Secretary Humphrey’s letter of Jan. 7, 1954, supra.↩
- In a letter to Secretary Humphrey, dated Jan. 15, 1954, Secretary Dulles stated that he could not fully concur in this revised draft memorandum, and that since he was soon to depart for Berlin to attend the Foreign Ministers meeting, he had asked Under Secretary Smith to represent the Department of State in a meeting of the interested parties to reach a consensus before the matter was referred to the NAC for final determination. (Secretary’s Letters, lot 56 D 459, “Humphrey, G.”) No record of such a meeting was found, however, in Department of State files.↩