General and Financial and Monetary Policy
31. Memorandum From the President’s Special Assistant for National Security Affairs (Bundy) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 2 [2 of 2], Box 2. Personal and Confidential.
32. Memorandum of Conversation
[Source: Department of State, Central Files, FN 16 US. Confidential. 2 pages of source text not declassified.]
33. Report From the Cabinet Committee on Balance of Payments to President Johnson
Source: Washington National Records Center, RG 40, Records from the Office of Franklin D. Roosevelt, Jr., Under Secretary of Commerce, 1963–June 1965: FRC 68 A 5947, Correspondence: The President, 1965. Confidential. The source text is attached to a February 1 memorandum from Secretary Dillon to the Cabinet Committee on Balance of Payments in wich he requested “final comments, if any, to Acting Assistant Secretary Trued by noon on Tuesday, February 2, 1965, so that we may transmit the report to the White House on Tuesday afternoon.” A copy was also sent to Martin, Chairman of the Board of Governors, Federal Reserve System.
34. Memorandum From the President’s Special Assistant for National Security Affairs (Bundy) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 2 [1 of 2], Box 2. No classification marking.
35. Memorandum From the Chairman of the Council of Economic Advisers (Ackley) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 2 [1 of 2], Box 2. No classification marking. The source text was attachment 1 of 2 to a February 2 note from Francis Bator to McGeorge Bundy. Attachment 2, telegram 204 from the Embassy in Luxembourg, February 1, is not printed.
37. Notes of Telephone Conversation
Source: Kennedy Library, Dillon Papers, History File 1965, 1/65–3/65, Box 44. No classification marking. Drafted by Robert Carswell, Dillon’s Special Assistant.
38. Memorandum From Francis M. Bator of the National Security Council Staff to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol 2. [1 of 2], Box 2. No classification marking.
39. Memorandum From Francis M. Bator of the National Security Council Staff to the President’s Special Assistant for National Security Affairs (Bundy)
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 2 [1 of 2], Box 2. No classification marking.
40. Memorandum From the President’s Special Assistant for National Security Affairs (Bundy) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 2. [1 of 2], Box 2. Secret.
41. Memorandum From the President’s Special Assistant for National Security Affairs (Bundy) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 2 [1 of 2], Box 2. No classification marking. Attached to the source text are two notes from McGeorge Bundy, both dated February 9. The first to Juanita Roberts, Personal Secretary to the President, reads: “The President should make the call as early as possible this afternoon.” A handwritten notation on the upper left corner of this note reads: “3 pm Feb. 9, 1965.” The second note informed the President: “This is the scenario for your call with Pearson. He may need time to consult, and you can give him a few hours—but not more—because the message has to go to bed tonight.” The President telephoned Pearson at 4 p.m. on February 9 (ibid., President’s Daily Diary), but no record of their conversation has been found.
42. Telegram From the Embassy in Japan to the Department of State
Source: Department of State, Central Files, FN 16 US. Confidential.
43. Memorandum From Acting Secretary of the Treasury Deming to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol 2 [1 of 2], Box 2. No classification marking.
45. Paper Prepared in the Department of Commerce
Source: Washington National Records Center, RG 40, Records from the Office of Franklin D. Roosevelt, Jr., Under Secretary of Commerce, 1963–June 1965: FRC 68 A 5947, Correspondence: The President, 1965. No classification marking. The source text bears no drafting information.
46. Minutes of Meeting of the Balance of Payments Advisory Committee
Source: Washington National Records Center, RG 40, Records of the Executive Secretariat, Office of the Secretary, 1965–1966: FRC 71 A 6617, Balance of Payments Committee for the Department of Commerce, January–June. No classification marking. An attached list of participants is not printed; however, all members of the Balance of Payments Advisory Committee (listed in Document 44) except Moore attended. Others in attendance included: Secretary Connor, Assistant Secretary (EA) Andrew Brimmer, Assistant Secretary (DIB) Thomas G. Wyman, National Export Expansion Coordinator Daniel Goldy, Assistant to the Secretary Lawrence C. McQuade, and George F. James of the Socony Mobil Oil Company, Inc.
47. Action Memorandum From the Deputy Assistant Secretary of State for Economic Affairs (Trezise) to the Under Secretary of State (Ball)
Source: Department of State, Central Files, FN 12 US. No classification marking. Drafted by Benjamin Caplan (E/OFE) and C. Fred Bergsten (E/OFE) on March 4.
48. Memorandum From Secretary of the Treasury Dillon to President Johnson
Source: Johnson Library, Bator Papers, Balance of Payments Message, February 10, 1965, Memos [2 of 2], Box 16. No classification marking. Submitted under cover of a March 5 note to Francis Bator from Robert Carswell in which he wrote: “The original of the attached memorandum has gone to Mr. Busby who requested it on behalf of the President and said it should be sent directly to him.”
49. Action Memorandum From the Assistant Secretary of State for Economic Affairs (Johnson) to Secretary of State Rusk
Source: Department of State, Central Files, FN 10. No classification marking. Drafted by Michael E. Ely (E/OFE) on March 11 and cleared by Benjamin Caplan (E/OFE).
50. Personal Message From Prime Minister Menzies to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 2, December 8, 1964 [1 of 2], Box 2. No classification marking. Sent under cover of a memorandum from Australian Ambassador Waller to the President on March 12. In this memorandum, Waller wrote: “I have been directed by the Prime Minister of Australia, Sir Robert Menzies, to transmit to you as a matter of urgency, the attached message dealing with proposed measures on the external payments position of the United States and their likely effects on Australia. As you will see, the message points out the serious effect on Australia which these measures could have.”
51. Letter From President Johnson to Prime Minister Menzies
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 2 [1 of 2], December 8, 1964, Box 2. No classification marking. Drafted by President Johnson and Francis Bator on March 12.
52. Letter From Secretary of Commerce Connor to Certain U.S. Business Leaders
Source: Department of State, Central Files, FN 12 US. No classification marking. The source text is enclosure 1 to CA-9786 to all diplomatic posts, March 19. The text of the airgram indicates that the letter was sent to over 600 heads of U.S. business enterprises. Regarding the drafting of and suggested revisions to this letter, see Document 47.
53. Memorandum From Secretary of the Treasury Dillon to President Johnson
Source: Johnson Library, Bator Papers, Balance of Payments, 1965 [1 of 4], Box 14. Limited Official Use.
54. Letter From President Johnson to Prime Minister Menzies
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 2 [1 of 2], December 8, 1964, Box 2. No classification marking.
55. Memorandum From the Deputy Assistant Secretary of State for Politico-Military Affairs (Kitchen) to Secretary of State Rusk
Source: Department of State, Central Files, DEF 12–5 (GER W). Secret. Drafted by Howard Meyers (G/PM) on March 23, concurred in by Assistant Secretary for European Affairs William R. Tyler, and sent through George Ball. Copies were sent to Ambassador Thompson and Mann.
56. Memorandum From Secretary of the Treasury Dillon to President Johnson
Source: Johnson Library, White House Central Files, Confidential Files, FO 4–1, Balance of Payments (1963–1965), Box 32–39. Confidential.
57. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, Bator Papers, Balance of Payments, 1965 [3 of 4], Box 14. Limited Official Use. Fowler became Secretary of the Treasury on April 1. For text of President’s Johnson’s letter accepting Dillon’s resignation, see Public Papers of the Presidents of the United States: Lyndon B. Johnson, 1965, Book I, pp. 347–348.
58. Minutes of Meeting of the Balance of Payments Advisory Committee
Source: Washington National Records Center, RG 40, Records of the Executive Secretariat, Office of the Secretary, 1965–1966: FRC 71 A 6617, Balance of Payments Committee for the Department of Commerce, July–December. No classification marking. A list of participants is not printed; all members of the Balance of Payments Advisory Committee of the Department of Commerce (see Document 44) attended except Fred J. Borch, Carl J. Gilbert, and Elisha Gray II. Also attending from the Commerce Department were: Secretary Connor, Andrew Brimmer, Alexander Trowbridge, Lawrence C. McQuade, and James G. Morton. George F. James, Socony Mobil Oil Company, attended as a technical alternate.
59. Letter From Secretary of Commerce Connor to President Johnson
Source: Washington National Records Center, RG 40, Records of the Executive Secretariat, Office of the Secretary, 1965–1966: FRC 71 A 6617, Balance of Payments Committee for the Department of Commerce, Meeting April 28, 1965. No classification marking.
60. Report From the Voluntary Cooperation Program Coordinating Group to the Cabinet Committee on Balance of Payments
Source: Johnson Library, National Security File, Balance of Payments, Vol. 2 [1 of 2], December 8, 1964, Box 2. Limited Official Use. The report was sent under cover of a May 26 memorandum from Merlyn N. Trued to the Cabinet Committee on Balance of Payments. A copy was also sent to Martin, Chairman of the Board of Governors, Federal Reserve System.