Office of the Historian

47. National Security Action Memorandum No. 810

Washington, August 28, 1961.

TO

  • Secretary of the Treasury

SUBJECT

  • U.S. Gold Position

I would like to have as soon as the Treasury has made an analysis an up-to-date study of our gold position. How much we are losing. How this compares to other years. Whether we can look for a better result in the next six months. What should we do about it.

I gathered the other day that one of the reasons for the flow of gold was the investment by Americans of dollars in Western Europe. Should I before Congress leaves announce that we are going to put this on a must basis of legislation next year that will make it retroactive to September 1st of this year. Would that help discourage a flow in the next four months?

John F. Kennedy1
  1. Source: Kennedy Library, National Security Files, Subjects Series, Balance of Payments and Gold. Secret. Copies were sent to the Department of State, the Bureau of the Budget, and the Chairman of the Council of Economic Advisers.↩
  2. Printed from a copy that indicates Kennedy signed the original.↩