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SECRT
-2-
The second point which he wished to nention was thoir
migration program. He stated that Australia was under-
taking a program which in proportion to thoir existing
population Was lergor than any immigration into the U.S.
at any time. This was putting a grest load on the
Australian continent in housing and in demanda on basio
ecmmodities. He indicated that it was important for their
own intorests and for the interests of the other nations
of the free world for Australia to be atrone and they
would probably not develop in strength without additional
population. He Iudioated that they could take 200,000
immigrants a year and aight even raise this to 250,000
per year in time.
The third point which he made was largely related to
the sesond although not wholly dependent upon the second,
and this was their requirament for funds for developing the
country. lie stated that thair basie industries needed
expansion, that they required public works, particularly
hydro-electric facilities which would serve the double
purpose of irrigation and power production. He specifi-
oally mentioned the nesd for ourth-soving machinery which
they could only bay in the U.S. He said thay did not feal
in a position to sak for more dollara than were now allotted
to then in the sterling pocl and that, thersfore, additional
dollar requirements must from other sources. He
mentioned that thay had considered Wall Street, which he
did not think was possible; a Govornaent loan from the U.S.,
S.
FRUMAN
the difficultis of which he recogaized; the International
Bank; or the Ix-Im Bank. He suid in bis conversations with
c ARCHIVES Hill SERVICE" "NATIONAL RECORDS AND
the British they had saan no objection to Australia attempt-
ing to obtain credit and that the British had favored the
for
COVERINED
International Bank as the souroe thoreof. He had doubts,
however, about the International Bank os he undorstood they
usually operated on a projeot basis and this involved
detailed studies which in burn took appreciable períoda of
time and that he folt thare was an argenoy in thoir algra-
tion progran which mase prospt action assential. In reply
to my question he indicated that the anount of money they
were thinking of was 250 million dollars ovar a 5 year
pariod or 50 million a yoar. I told him that we would be
very glad to give hin such help as we could in stadying the
details of his suggestions. It was agreed that Mr. Thorg
would arrange a meeting at which State, Treasury, and
Commerce representatives would meet with his representatives
to atudy the problem.
Dean Achosea
SECRET
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- Type
- photo
- Media ID
- d1bc667827c9cd74
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- unknown
Document data
- ID
- 183392224
- Core
- doc
- Type
- document
DTO data
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Context sent to Scholar
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Page context
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"ocrText": "SECRT\n-2-\nThe second point which he wished to nention was thoir\nmigration program. He stated that Australia was under-\ntaking a program which in proportion to thoir existing\npopulation Was lergor than any immigration into the U.S.\nat any time. This was putting a grest load on the\nAustralian continent in housing and in demanda on basio\necmmodities. He indicated that it was important for their\nown intorests and for the interests of the other nations\nof the free world for Australia to be atrone and they\nwould probably not develop in strength without additional\npopulation. He Iudioated that they could take 200,000\nimmigrants a year and aight even raise this to 250,000\nper year in time.\nThe third point which he made was largely related to\nthe sesond although not wholly dependent upon the second,\nand this was their requirament for funds for developing the\ncountry. lie stated that thair basie industries needed\nexpansion, that they required public works, particularly\nhydro-electric facilities which would serve the double\npurpose of irrigation and power production. He specifi-\noally mentioned the nesd for ourth-soving machinery which\nthey could only bay in the U.S. He said thay did not feal\nin a position to sak for more dollara than were now allotted\nto then in the sterling pocl and that, thersfore, additional\ndollar requirements must from other sources. He\nmentioned that thay had considered Wall Street, which he\ndid not think was possible; a Govornaent loan from the U.S.,\nS.\nFRUMAN\nthe difficultis of which he recogaized; the International\nBank; or the Ix-Im Bank. He suid in bis conversations with\nc ARCHIVES Hill SERVICE\" \"NATIONAL RECORDS AND\nthe British they had saan no objection to Australia attempt-\ning to obtain credit and that the British had favored the\nfor\nCOVERINED\nInternational Bank as the souroe thoreof. He had doubts,\nhowever, about the International Bank os he undorstood they\nusually operated on a projeot basis and this involved\ndetailed studies which in burn took appreciable períoda of\ntime and that he folt thare was an argenoy in thoir algra-\ntion progran which mase prospt action assential. In reply\nto my question he indicated that the anount of money they\nwere thinking of was 250 million dollars ovar a 5 year\npariod or 50 million a yoar. I told him that we would be\nvery glad to give hin such help as we could in stadying the\ndetails of his suggestions. It was agreed that Mr. Thorg\nwould arrange a meeting at which State, Treasury, and\nCommerce representatives would meet with his representatives\nto atudy the problem.\nDean Achosea\nSECRET"
}