General and Financial and Monetary Policy
121. Memorandum of Conversation
Source: Johnson Library, National Security File, Name File, Rostow Memos, Boxes 7 and 8. Secret. Drafted in Washington on May 1.
122. Current Economic Developments
Source: Washington National Records Center, E/CBA/REP Files: FRC 72 A 6248, Current Economic Developments. Limited Official Use. The source text comprises pages 20–22 of the issue.
123. Memorandum From Acting Secretary of Commerce Trowbridge to the Chairman of the Cabinet Committee on Balance of Payments (Fowler)
Source: Washington National Records Center, RG 40, Executive Secretariat Files: FRC 74 A 30, Balance of Payments Cabinet Committee. No classification marking. Drafted by Lawrence A. Fox, Director of the Bureau of International Commerce, on May 12.
124. Memorandum From the Under Secretary of the Treasury for Monetary Affairs (Deming) to John J. McCloy
Source: Johnson Library, Bator Papers, McCloy Trip, June 1967, Box 8. Confidential. McCloy was the U.S. representative to the trilateral offset negotiations.
125. Memorandum of Conversation
Source: Johnson Library, Bator Papers, Letters and Memoranda of Conversation, Box 9. Limited Official Use. Drafted by George H. Willis on June 2 and approved by Deming. The meeting was held in Secretary Fowler’s Conference Room.
126. Telegram From the Department of State to the Embassy in Italy
Source: Department of State, Central Files, FN 10. Confidential; Immediate; Limdis. Drafted by Willis; cleared by Bator, Deming and Fowler (Treasury), and John C. Colman (E/OMA); and approved by Colman. A similar letter from Fowler to Schiller on negotiations regarding international reserves was transmitted in telegram 206501 to Bonn, June 1. (Ibid.) See footnote 3, Document 124.
127. Memorandum From the Director of the U.S. Travel Service, Department of Commerce (Black) to Acting Secretary of Commerce Trowbridge
Source: Washington National Records Center, RG 40, Department of Commerce Files: FRC 74 A 20, U.S. Travel Service, 1967–1968. No classification marking. Although the memorandum is addressed to the Secretary of Commerce, Trowbridge was still serving as Acting Secretary until June 14, when he was sworn in as Secretary.
128. Memorandum of Telephone Conversation
Source: Johnson Library, Bator Papers, McCloy Trip, June 1967, Box 8. Confidential. Drafted by Deming.
129. Memorandum of Conversation
Source: Johnson Library, Bator Papers, Liquidity Negotiations, Box 9. Limited Official Use. Drafted by Knowlton and approved by Fowler. Another copy with a few handwritten changes and additions is ibid., Letters and Memoranda of Conversation, Box 9. The meeting was held in Secretary Fowler’s Conference Room.
130. Memorandum for the Record
Source: Johnson Library, Bator Papers, McCloy Trip, June 1967, Box 8. Secret. Drafted by Bator on June 22.
131. Memorandum From the General Counsel, Department of Commerce (Giles) to Secretary of Commerce Trowbridge
Source: Washington National Records Center, RG 40, Secretary of Commerce Files: FRC 74 A 20, U.S. Travel Service, 1967–1968. No classification marking.
132. Current Economic Developments
Source: Washington National Records Center, RG 59, E/CBA/REP Files: FRC 72 A 6248, Current Economic Developments. Limited Official Use. The source text comprises pages 18–19 of the issue.
133. Memorandum for the Files
Source: Johnson Library, Bator Papers, Letters and Memoranda of Conversation, Box 9. Limited Official Use. Drafted by Willis on July 11 and approved by Deming. The signed original of this memorandum is Deming Group paper DG/67/211. (Washington National Records Center, RG 56, OASIA Files:FRC 75 A 101, Deming Group)
134. Telegram From the Embassy in the United Kingdom to the Department of State
Source: Department of State, Central Files, FN 10. Unclassified; Priority.
136. Current Economic Developments
Source: Washington National Records Center, RG 59, E/CBA/REP Files: FRC 72 A 6248, Current Economic Developments. Limited Official Use. The source text comprises pages 1–4 of the issue.
137. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, White House Central Files, Confidential File, FO 4–1, Balance of Payments (1967–1969). Confidential. A transmittal memorandum from Fowler to the President is not printed. At the bottom of that memorandum, the President wrote: “This is well done & greatly interests me. Lets spend some time in Cab. Com. on it. We just must do better. L.”
138. Memorandum From the President’s Deputy Special Assistant for National Security Affairs (Bator) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. IV, January 1967 [1 of 2], Box 3. No classification marking.
139. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, White House Central Files, Confidential File, FO 4–1, Balance of Payments (1967–1969). Confidential. A handwritten note by Fowler on the source text reads: “Note: This was covered generally in our conference this morning.” No record of this meeting has been found. Attached to the source text is a typed note dictated by the President to James R. Jones, dated August 10 at 11:30 p.m., which reads: “That’s all right.” Also attached is a covering memorandum for the record by Jones, August 12, indicating that the first meeting on military costs in NATO and the Far East was scheduled for August 12 at 5:30 p.m., and that Fowler had suggested that the second meeting on foreign exchange costs of direct investment programs not be scheduled until he got back to the White House.
140. Telegram From the Department of State to the Embassy in the United Kingdom
Source: Department of State, Central Files, FN 10. Confidential; Priority; Limdis. Drafted by Willis on August 22 and approved by John F. L. Ghiardi (E/IMA).
142. Letter From French Finance and Economic Affairs Minister Debre to Secretary of the Treasury Fowler
[Source: Johnson Library, Bator Papers, International Monetary Matters, Box 10. No classification marking. 4 pages of source text not declassified.]
143. Memorandum From the Secretary of Commerce’s Assistant (Simpich) to Secretary of Commerce Trowbridge
Source: Washington National Records Center, RG 40, Executive Secretariat Files: FRC 74 A 30, Balance of Payments Background Material. Confidential.
144. Letter From the President of General Electric Company (Borch) to Secretary of Commerce Trowbridge
Source: Washington National Records Center, RG 40, Executive Secretariat Files: FRC 74 A 30, Balance of Payments Background Material. No classification marking.
145. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, National Security File, Fried Files, Chron, September 1, 1967–November 20, 1967 [2 of 2], Box 2. Limited Official Use. Attached to the source text is a memorandum from Rostow to the President, October 9, summarizing Fowler’s memorandum.
146. Memorandum From the Secretary of Commerce’s Assistant (Simpich) to Secretary of Commerce Trowbridge
Source: Washington National Records Center, RG 40, Executive Secretariat Files: FRC 74 A 30, Balance of Payments Background Material. No classification marking. A handwritten note on the source text reads: “Put with notebooks on BOP program.”
147. Memorandum From the President’s Special Assistant (Rostow) to President Johnson
Source: Johnson Library, National Security File, Subject File, Monetary Crisis, November 1968, Cables and Memos, Vol. 1 [1 of 2], Box 22. Secret; Sensitive. A handwritten “L” at the top of the source text indicates that the President saw the memorandum. Rostow’s handwritten note on the right margin, dated October 20, indicates that Fried, Fowler, and Ben Read had been notified.
148. Department of Commerce Paper
Source: Washington National Records Center, RG 40, Executive Secretariat Files:FRC 74 A 30, Balance of Payments Cabinet Committee. No classification marking. Drafted by Gerald A. Pollack, Deputy Assistant Secretary of Commerce for Economic Affairs, and Mark Feer, Deputy Assistant Secretary of Commerce for Financial Policy. Attached to the source text is a November 7 note from William H. Shaw to Secretary Trowbridge, which reads as follows:
- “a. that final agreement on a complete program is not likely at the November 9 meeting, and
- “b. that when such agreement is achieved, those points of the program intended to increase exports will be relatively weak as compared with the initial hopes in this area.”
149. Memorandum From the President’s Special Assistant (Rostow) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. IV, January 1967 [2 of 2], Box 3. Confidential.
150. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, National Security File, NSC History, Gold Crisis, Nov. ′67–Mar. ′68, Box 54. Secret.