Office of the Historian

269. Memorandum of a Conversation Between the Secretary of State and the Under Secretary of State (Hoover), Department of State, Washington, October 21, 1957, 11:15 a.m.1

Washington, October 21, 1957, 11:15 a.m.

Mr. Hoover said that he had a talk with Secretary Anderson wherein the latter had put out the idea that some sort of an international Mid East organization might be established which would receive a tax of 10% which Western companies receiving Middle East oil would impose and which organization with joint Arab-West management would use the funds for economic development in the Middle East.

I said I thought this idea was very interesting and hoped that he could work on it. Later on I saw Secretary Anderson and expressed the same thought to him.

JFD
  1. Source: Eisenhower Library, Dulles Papers, General Memoranda of Conversation. Confidential; Personal and Private. Drafted by Dulles.↩