Page:United States Statutes at Large Volume 57 Part 2.djvu/680

 1316 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [57 STAT. In any case, however, the new organization would function as an agency of the Brazilian Government, not for profit, but primarily to promote to the fullest degree possible the development of Brazil's natural resources, in order best to serve the interests of the country and of the other American republics. The work of the new Brazilian organization would be greatly facili- tated if it could have positive assurance of technical assistance from the United States. Moreover, in order to carry out its program, the Brazilian Government, in addition to the funds for local expenditures, which it would provide, would require dollar credits in the approxi- mate total amount of $100,000,000, to be drawn against as needed for dollar expenditures in connection with the projects adopted. Such credits would be utilized in projects undertaken directly by the Brazilian Government or by private individuals approved by it. On behalf of the Government of Brazil, and in accordance with understandings between the Brazilian Economic Mission, which I have the honor to head, and the representatives of the Government of the United States, I should greatly appreciate it if Your Excellency's Government would study sympathetically the present program of technical and financial cooperation. I am firmly convinced that a program of collaboration, such as that outlined above, can be of the greatest value for both of ourcountries in carrying out the aims of the resolution of the Rio de Janeiro Meeting to mobilize all the economic resources of the hemisphere in our com- mon defense. I avail myself of the opportunity to renew to Your Excellency the assurances of my highest consideration. A. DE Sz. COSTA His Excellency SUMNER WELLES, Acting Secretary of State of the United States of America. The Acting Secretary of State to the Brazilian Minister of Finance DEPARTMENT OF STATE WASHINGTON EMarch 3, 1942 EXCELLENCY: I acknowledge the receipt of your note of March 3, 1942, outlining a program for further economic cooperation between the United States and Brazil in furtherance of Resolution II of the Third Meeting of the Ministers of Foreign Affairs of the American Republics at Rio de Janeiro, calling for the mobilization of the productive resources of the American republics. I have the honor to inform you that the appropriate agencies of the Government of the United States have considered carefully this program and are prepared to extend the financial and expert coopera- tion essential to its success. I have been informed by the Secretary of

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