Foreign Relations of the United States, 1958–1960, Volume V, Microfiche Supplement, American Republics

CH–33. Memorandum from the President’s Staff Secretary (Goodpaster) to the President’s Assistant (Persons)¹

Washington, March 7, 1960

MEMORANDUM FOR GENERAL PERSONS

During the President’s visit to Chile, President Alessandri expressed to him very great concern over the impact of our copper stockpile on world copper markets, referring specifically to the fact that it “overhangs” the market, and to recurrent rumors from time to time that large releases from the stockpile are under consideration or about to take place with little or no notice.

The President stated he would like you to make it known within the Administration and specifically to OCDM, that the whole spirit and intent of our stockpile laws is to provide for the use of these materials for emergency purposes only. While an emergency of a severe character in the economic field might occur which would be of the same seriousness as war itself, and thereby justify releases, it is not his intent to release materials from the stockpile with the purpose of influencing the market through the normal, commercial effect of such releases.

A.J. Goodpaster
Brigadier General, USA
Staff Secretary

1. Source: Eisenhower Library, Project Clean Up, “Chile.”