811.516 Export-Import Bank/6–2347
Memorandum of Conversation, by the Director of the Office of Financial and Development Policy (Ness)
By appointment arranged at his request Mr. Tan84 called at my office on Monday, June 23, concerning the steps which might be taken [Page 1146] to counteract what he regarded as the inevitable psychological effects of the failure to renew the earmark of $500 million for China at the Export-Import Bank. He lay particular emphasis upon the proposition that while the significance of this act would be clearly appraised by those expert at such matters, the effects upon general public opinion in China would be serious. He proposed, therefore, that this Government (and by implication the Department rather than the Bank itself) should issue a reassuring statement at the time the earmark expires. He asked in particular that emphasis be laid upon the continued willingness of this Government to supply financial assistance to China and upon the way in which the Export-Import Bank might operate consistently with its established rules and policies.
I reminded Mr. Tan that the matter he had brought to my attention had been mentioned in the conversation between Mr. Clayton and Ambassador Koo,85 said that I had been giving attention to the matter and would continue to do so.
I took the occasion to urge upon Mr. Tan the importance of having the Chinese Government representatives here proceed with the Export-Import Bank according to the ordinary rules and regulations of that institution. I emphasized particularly the importance of supplying to the Bank the information it requested for purposes of its study and analysis. Mr. Tan said he would urge this upon his colleagues.