861.51/2874½
Memorandum of Conversation, by the Under Secretary of State (Welles)
The Soviet Ambassador called to see me this evening.
The Ambassador mentioned his discussions with Jesse Jones with regard to the credits desired by the Soviet Government. He went into some detail with regard to Soviet requirements and his inability as yet, notwithstanding several conferences with Mr. Jones, to reach even the preliminary basis for negotiation. I told the Ambassador that it happened that I had discussed this matter with Mr. Jones only yesterday and I thought it would be desirable for the Ambassador to seek another interview with Mr. Jones since I felt that Mr. Jones was just as desirous as the Department of State and the President himself that a satisfactory and practical agreement be reached. The Ambassador said he would do so.
The Ambassador seemed to be quite optimistic and thoroughly confident with regard to the general military situation of Russia.