800.515/7-545
The Director of the Office of Financial and Development Policy to the Assistant Secretary of State and the Secretary of State
[Babelsberg, July 18, 1945]
War Department Responsibility for German Interim Financing
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On July 5 the Secretary transmitted a memorandum to the President, a copy of which is attached, outlining policy agreed in Washington for U.S. participation in German interim financing. The short annex included in the German political and economic policy directive put forward yesterday by the President follows this line exactly.
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It is essential that responsibility be clearly fixed upon one U.S. Agency for all U.S. financing with respect to all imports into Germany for which the Government of the United States assumes responsibility. The memorandum of July 5 recommends that the responsibility be placed upon the War Department.
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No reply has been received from the President. Since problems relating to responsibility for financing certain types of imports into the U.S. Zone have already arisen, and the necessity for handling the United States’ share of any combined financing should soon arise if the President’s proposals are adopted, it is important that an early decision be sought.
E[MILIO] G C[OLLADO]