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Historical documents

55 McFarlane to Chifley

Cablegram 1027 WASHINGTON, 19 October 1949, 1.04 p.m.

EMERGENCY SECRET

Board approved drawing 20 million United States dollars without
any special condition. I foreshadowed further request minimum 20
million. No publicity here but you are free to announce at any
time.

2. Southard stated that because the repurchase mechanism is
unlikely to operate 'he would prefer a firm commitment on
repayment but doesn't press it in this case'. He referred however
to his general proposal on repayments and the pending discussions
in the Board and it is clear he will press for commitment on our
next request as previously advised to me. [1] Others spoke but no
opposition. Papers following.

1 Subsequently Australia drew an additional US30 million in August
1952. Both drawings were repaid by 30 June 1955.


[AA: A4940, C23]
Last Updated: 11 September 2013
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