General and Financial and Monetary Policy
91. Report From the Voluntary Cooperation Program Coordinating Group to the Cabinet Committee on Balance of Payments
Source: Department of State, Ball Papers: Lot 74 D 272, Balance of Payments. Limited Official Use. In a May 2 covering memorandum to the Cabinet Committee on Balance of Payments, Assistant Secretary of the Treasury for International Affairs Trued identified the report as the third report of this interagency coordinating group. A copy was also sent to Martin, Chairman of the Federal Reserve System.
92. Memorandum From Vice President Humphrey to Secretary of the Treasury Fowler
Source: Johnson Library, Fowler Papers, International Balance of Payments Committee—Classified Material:B/P Travel Expenditures Restraints [1 of 2], Box 46. Confidential.
93. Minutes of Meeting
Source: Johnson Library, Fowler Papers, International Balance of Payments Committee—Classified Material: 1968 Balance of Payments Travel Expenditures Restraints [1 of 2], Box 46. Secret. Drafted by Knowlton on May 5. Sent under cover of a May 5 memorandum from Deputy Assistant Secretary of the Treasury for International Affairs Knowlton to Secretary Fowler in which Knowlton wrote: “Attached are minutes of yesterday’s meeting on travel tax. Mr. Trued has not seen the attached because he is out of town today.” The meeting was held in Secretary Fowler’s Conference Room.
94. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 3 [1 of 2], Box 2. Secret.
95. Memorandum From the President’s Deputy Special Assistant for National Security Affairs (Bator) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 3 [1 of 2], Box 2. Secret; Sensitive.
96. Circular Telegram From the Department of State to Certain Posts
Source: Department of State, Central Files, FN 12 US. Secret; Limdis. Drafted by F. L. Widman (Treasury) on May 13; cleared by Winthrop Knowlton (Treasury) (in draft), Ralph E. Lindstrom (E/OMA), Francis M. Bator, Marvin W. Humphreys (S/S), Walter J. Stoessel (EUR) (in draft), and George S. Springsteen (U); and approved by Anthony M. Solomon (E). Sent to Bonn, Brussels, The Hague, Madrid, Rome, Vienna, and Paris.
97. Circular Telegram From the Department of State to Certain Posts
Source: Department of State, Central Files, FN 12 US. Unclassified. Drafted by F.L. Widman (Treasury) on May 18, cleared by Winthrop Knowlton (Treasury), and approved by Matilda Milne (E/OMA). Sent to 14 European posts and Tokyo, and pouched to Mexico City, Rio de Janeiro, Buenos Aires, and New Delhi.
98. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, White House Central Files, Confidential File, FO 4–1, Balance of Payments (1966), Box 32–39. Confidential.
99. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, Bator Papers, Balance of Payments, 1966 [2 of 2], Box 15. Confidential. A copy was sent to Bator.
100. Memorandum From the President’s Deputy Special Assistant for National Security Affairs (Bator) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 3 [1 of 2], Box 2. Secret; Very Sensitive. Handwritten at the top of the source text is the initial “L”.
101. Minutes of Meeting of the Cabinet Committee on Balance of Payments
Source: Johnson Library, Fowler Papers, International Balance of Payments Committee: Cabinet Committee on Balance of Payments, 8/65–12/66, Box 52. Confidential. Drafted by Philip P. Schaffner (Treasury) on July 19. The meeting was held at the Treasury Department.
102. Memorandum of Conversation Between U.S. and British Officials
Source: Department of State, Central Files, POL 7 UK. Confidential; Exdis. Drafted by Walter J. Stoessel, Jr. (EUR) and approved by S and U on August 4, Bator on August 15, and Widman (Treasury) on August 24. The meeting was held in the Cabinet Room of the White House. The source text is labeled “Part 5 of 6.” Prime Minister Wilson visited Washington July 28–29. In preparation for President Johnson’s meeting with Wilson, Secretary Rusk, on the morning of July 29, discussed over the telephone with the President several subjects for discussion. Concerning Wilson’s financial program, the President observed that “he’s biting some bullets and has some tough days ahead and so have we.” He said that he would listen to the Prime Minister and if any U.S. financial involvement or public commitments were required, he would suggest talks on a multilateral basis and with “our financial people.” The Secretary agreed. (Johnson Library, Recordings and Transcripts, Recording of Telephone Conversation between President Johnson and Secretary Rusk, July 29, 1966, 10:40 a.m., Tape F66.18, Side B, PNO 1)
103. Telegram From the White House Situation Room to President Johnson, in Texas
Source: Johnson Library, Bator Papers, Trilaterals, Box 19. Secret. A stamped notation at the top of the first page reads: “Sent WHCA 1966 AUG 29 00 08.” The original date of the message from Prime Minister Wilson is not legible on the source text. President Johnson was at the LBJ Ranch August 26–30.
105. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, Bator Papers, Balance of Payments, 1966 [2 of 2], Box 15. Secret. Drafted by J.R. Petty (OS).
106. Minutes of Meeting of the Cabinet Committee on the Balance of Payments
Source: Johnson Library, Fowler Papers, Voluntary Program, Box 16. Confidential. Drafted by John R. Petty (Treasury) on December 10. The meeting was held in Secretary Fowler’s Conference Room. A list of participants is not printed; the following attended the meeting: Gaud (AID), Schnittker (Agriculture), Schultze (BOB), Ackley (CEA), Secretary Connor, Secretary McNamara, Martin (Federal Reserve), Rostow (State), Roth (Trade Negotiations), Fowler, Knowlton, and Petty (Treasury), and Bator. Copies were sent to Secretary Fowler and Knowlton, Petty, and Schaffner.
107. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 3 [1 of 2] Box 2. Confidential.
108. Memorandum From the Cabinet Committee on Balance of Payments to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 3 [1 of 2], Box 2. Confidential. Secretary Fowler sent the memorandum to President Johnson under cover of Document 107. A handwritten note at the top of the source text reads: “$7 billion.”
109. Memorandum From the President’s Deputy Special Assistant for National Security Affairs (Bator) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. 3 [1 of 2], Box 2. Confidential.
111. Minutes of Meeting of the Cabinet Committee on Balance of Payments
Source: Johnson Library, Fowler Papers, International Balance of Payments—Classified Material: Cabinet Committee on Balance of Payments, 1967–68 [2 of 2], Box 52. Confidential. Drafted by Philip P. Schaffner on January 10. The meeting was held at the Treasury Department. A list of participants is not printed; the following attended: Secretary Fowler, Deming, Knowlton, Petty, and Schaffner (Treasury), Secretary McNamara and Robert N. Anthony (DOD), Secretary Connor, Rostow and Solomon (State), Winn Finner (Agriculture), Administrator Gaud and Gustav Ranis (AID), Roth (STR), Director Schultze and Charles J. Zwick (BOB), Okun (CEA), Bator, Governors Robertson, Daane, and Brimmer (Federal Reserve), and T. Van Dyk (Vice President’s Office).
112. Memorandum From the Under Secretary of State for Political Affairs (Rostow) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. IV, January 1967 [1 of 2], Box 3. Confidential.
114. Memorandum From the President’s Deputy Special Assistant for National Security Affairs (Bator) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. IV, January 1967 [2 of 2], Box 3. Confidential. Attached to the source text is a note from Bator to the President, January 17, saying that he understood that the original of this memorandum, forwarded to the President on Saturday morning, January 14, may have been lost and that “I am afraid we need decisions almost right away if the Economic Report is to get out on time.”
115. Record of Meeting
Source: Johnson Library, Bator Papers, Chequers Trip, Box 8. Secret. No drafting information appears on the source text. Copies were sent to 10 British officials and Bator. An attached note from Bator to Eugene Rostow, February 1, indicates that the “attached is for your personal information. Please do not circulate.” Bator added that he was also sending copies of this record to Walt Rostow, John Leddy, Tony Solomon, Bob Bowie, Nick Katzenbach, and John McNaughton.
116. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, Bator Papers, Chequers Trip, Box 8. No classification marking. A covering memorandum from Walt Rostow to President Johnson, January 23, briefly summarizes Fowler’s “preliminary report,” adding that Bator, who accompanied Fowler to the United Kingdom, will upon his return “give you his impressions of the Chequers meeting as well.”
117. Current Economic Developments
Source: Washington National Records Center, E/CBA/REP Files: FRC 72 A 6248, Current Economic Developments. Unclassified. The source text comprises page 16 of the issue.
118. Memorandum From the President’s Special Assistant (Rostow) to President Johnson
Source: Johnson Library, National Security File, Subject File, Balance of Payments, Vol. IV, January 1967 [2 of 2], Box 3. Confidential. An attached undated note from “A.” (presumably Alice M. Caubet) to Lois Nivens, indicates, among other things, that regarding authority for the Secretary of the Treasury to use Exchange Stabilization Funds “Mr. Smith has asked Mr. Hamilton to do a memo to Sec. of Treas., by tonight for Mr. Rostow’s signature.” That memorandum is presumably the one printed here.
119. Letter From Secretary of the Treasury Fowler to the German Minister of Finance (Schiller)
Source: Johnson Library, Bator Papers, McCloy Trip, June 1967, Box 8. Confidential; Personal. Attached to Document 124. Copies of this letter were distributed to members of the Deming Group as DG/67/91 on April 6. (Washington National Records Center, RG 56, OASIA Files: FRC 75 A 101, Deming Group)
120. Memorandum From Secretary of the Treasury Fowler to President Johnson
Source: Johnson Library, White House Confidential Files, CF, TA 1 (1967–1969). Confidential.