Memorandum from David Bruce to President Harry S. Truman, with Attachments
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OCR Page 1 of 10DEPARTMENT OF STATE
WASHINGTON
SECRET
SEGURITY INFORMATION
June 30, 1952
MEMORANDUM FOR THE PRESIDENT
Subject: Appointment with Israel Foreign Minister,
Mr. Moshe Sharett.
The Israel Minister for Foreign Affairs, Mr. Moshe Sharett,
and Ambassador Eban have an appointment with you Tuesday, July 1,
at 12:15. While the ostensible purpose of the call is one of
courtesy prior to his return to Israel, it is possible that the For-
eign Minister may take the opportunity to mention Israel's present
financial difficulties.
In this connection, Mr. Sharett has already requested Uni ted
States Government assistance in refunding Israel's short term debt,
stated to amount to $124 million. Possibilities suggested by the
Foreign Minister included an Export Import Bank loan or use of the
United States Treasury Stabilization fund. The need for such aid
has not yet been proven, nor has it yet been possible to evaluate
its effect upon our policy of impartiality in the Near East.
The difficulties are such that Dr. Raymond F. Mikesell, Professor
of Economics at the University of Virginia and consultant to various
government agencies, is being sent to Israel, with the cooperation of
the Israel Government, in an endeavor to obtain sufficient information
about Israel's financial and economic problems to recommend methods
and policies for solving them.
The important points made by the Secretary in his conversation
with Foreign Minister Sharett and Ambassador Eban were: (1) He would
have the matter gone into urgently; (2) Mr. Mikesell is being sent to Israel
to try to find an answer to Israel's financial troubles; and (3) we must
determine whether Israel's financial policy will be effective or whether
Israel will continue policies "which would recreate the present situation."
The
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