222. Memorandum From the Assistant Secretary of State for Inter-American Affairs (Holland) to the Deputy Under Secretary of State for Economic Affairs (Prochnow)1

SUBJECT

  • Mexican Applications Pending before Export-Import Bank

In a conference with Mr. Hoover before he left town we agreed that the Department would urge that the Export-Import Bank hold [Page 716]up for the time being on Mexican applications for loans to a steel mill in Monterrey, to the government steel mill in Monclova and to the Mexican railroads. I am leaving town and shall be gone for a week. I hope that you will hold the fort and if the question comes up in my absence, I would be grateful if you would have someone reach me by telephone wherever I may be before any change in the policy suggested here is adopted.

  1. Source: Department of State, Central Files, 103–XMB/4–1356. Secret.