Foreign Relations of the United States, 1955–1957, American Republics: Multilateral; Mexico; Caribbean, Volume VI

93. Memorandum From the Under Secretary of State (Hoover) to the Assistant Secretary of State for Inter-American Affairs (Holland)¹

Washington, August 25, 1956.

I discussed with Mr. Hollister over the telephone this morning the situation with regard to the split that has developed between State and ICA over the ICA program in Latin America for the next three years.

Mr. Hollister disagreed with the action taken by Mr. FitzGerald in the Planning Board and agreed with the State position which outlined a tapering off of the grant assistance program during the next three year period and placing emphasis on expanded activities of loaning agencies such as the Eximbank, IBRD and IFC.

Herbert Hoover, Jr.²

1. Source: Department of State, Central Files, 720.5–MSP/8–2556. Confidential.
2. Printed from a copy which bears this typed signature.