166. Letter From the Secretary of State to the Secretary of the Treasury (Anderson)1
Dear Bob: I have with reluctance and misgivings authorized our UN Delegation to try to seek a substitute for the present SUNFED resolution2 which would approve UN consideration of the desirability of a UN development loan fund when there was dependable evidence that contributions in generally usable currencies would be available in amounts aggregating $500 million or $400 million per annum. The resolution would further point out that this would in the case of some countries, e.g., the US, require a shifting from bilateral assistance to this fund and also that US participation would require Congressional approval presumably on an annual basis.
I have, as I say, doubts that this is really a sound project, but as Sputnik has taught us, we cannot safely avoid the propaganda aspects of what we do. To be a minority of practically one on the SUNFED resolution would be extremely bad at this juncture. The course I have authorized is perhaps part of a price we have to pay for lapses in other respects. As you know, something like this is ardently supported by both Lodge and Judd.
I can assure you that I have taken account of your point of view, which I think is thoroughly sound except that there are other than purely fiscal factors involved, with respect to which I have perhaps a special responsibility.
Sincerely yours,
- Source: Eisenhower Library, Dulles Papers, Dulles Chronological File. Confidential.↩
- In Gadel 106, December 7, the Department of State authorized the U.S. Delegation to support a compromise proposal on SUNFED, in view of the reluctance of many representatives to accept the U.S. position without revision. (Department of State, Central Files, 398.051/12–757) A general summary of the negotiations leading to the compromise resolution is in Document 169.↩
- Printed from a copy which bears this typed signature.↩