832.51/1749: Telegram
The Secretary of State to the Ambassador in Brazil (Caffery)
58. Your 93, March 7, 2 p.m. The Department does not like the last clause, which would imply that this Government is to give its [Page 597] approval before purchases are made in the open market. This clause might be stricken out or might be replaced by a statement that the amounts of such purchases will be disclosed from time to time.
The phrasing used appears to exclude repurchases in the open market even for amortization of grades I and II. The text might be clarified by substituting, for the last four words of the first sentence, “in excess of the amortization indicated in this proposal”, and inserting “such additional” before “repurchases” in the second sentence.