152. Minutes of a Cabinet Meeting, The White House, Washington, August 23, 1957, 9–10:50 a.m.1


President Eisenhower

Vice President Nixon

Sec. Dulles

Sec. Anderson

Sec. Wilson

Deputy Atty Gen Rogers (for Mr. Brownell)

Mr. Summerfield

Under Sec. Chilson (for Sec. Seaton)

Sec. Benson

Under Sec. Walter Williams (for Sec. Weeks)

Under Sec. James T. O’Connell (for Sec. Mitchell)

Sec. Folsom

Director Brundage

Mr. Gordon Gray

Chrm. Ellsworth

Amb. Lodge

Dr. Saulnier

Under Sec. Treasury F.C. Scribner

Asst. Sec. Commerce F.H. Mueller

Mr. Charles Kendall, ODM

Mr. Wilbur Fritz, ODM

Mr. Leo Hoegh, FCDA

Mr. Arthur Larson, USIA

Mr. Max Medley, GSA

Mr. Edw. C. Sweeney, GSA

Mr. Henry H. Pike, GSA

Gov. Adams

Gen. Persons

Mr. Rabb

Gen. Cutler

Gen. Goodpaster, in part

Mr. Hagerty, in part

Mr. Martin

Mr. Morgan, in part

Gov. Pyle

M. Shanley

Mrs. Wheaton

Mr. Patterson

Buenos Aires Conference—Sec. Anderson reported first on his conversations in Brazil where officials pressed the question of assistance for oil development. In response to the President’s query, he stated that Brazil was very slowly paying back the $400 million loan previously granted.

Regarding the Buenos Aires Conference, he noted the desire of small countries for some sort of economic treaty. Because of the opposition of larger countries, he believed the outcome would be some form of declaration not requiring Congressional approval. He noted the Latin American feeling of being stepchildren in the activity of the World Bank. Their desire for an Inter-American Bank was not shared by the Secretary, who believed that loans and existing mechanisms should be used. Mr. Anderson reported also the great interest in commodity agreements, a procedure which would be [Page 532] difficult for the United States. Of particular concern to Peru, Mexico, and Chile was our proposed action on lead and zinc, about which a sharp protest—only in small part for the record—would be forthcoming since the action might cause three million workers in Peru to be unemployed.

Other subjects discussed included tax sparing as an inducement to capital investment and compensation for private property confiscated by governments. In view of Mexican sensitivities, Mr. Anderson believed it best to work toward some general language on the latter, acceptable to all countries.

Sec. Anderson concluded by noting the difficulties experienced by Argentina caused by Peron’s departure along with some $800 million of its resources, and President Aramburu’s efforts to foster democracy in a depressed economic situation.

[Here follows discussion of agenda items entitled “Government Aluminum and Copper Purchases”, “Expenditures and Personnel”, “Regional Boundaries”, and “Report on the Economic Situation”.]

  1. Source: Eisenhower Library, Whitman File, Cabinet Meetings. Prepared by Minnich. A notation on the source text indicates that Under Secretary of the Treasury Scribner and the eight following participants attended for item 2 only.