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United States Department of State / Foreign relations of the United States, 1947. Eastern Europe; The Soviet Union

Finland,   pp. 256-259 PDF (1.2 MB)

Page 257

    Memorandum of Conversation, by the Minister in Finland
CONFIDENTIAL                           HELSINKI, February 8, 1947.
    Mr. Walter Grisbeck,2 who returned to Helsinki February 3 from
the United States, talked with me for an hour and a half this after-
noon giving me an account of his discussions in Washington regard-
ing the new Export-Import Bank credit to Finland. Mr. Grasbeck
said that he had maintained his headquarters in New York and had
gone to Washington twice a week. In Washington he had first gotten
in touch with State Department officers. He had had several confer-
ences with them. He found these officers extremely well informed
regarding conditions in Finland. They had asked for particulars
regarding a good many points. Some of these he could furnish him-
self and others he asked Mr. Matti Virkkunen, head of the Commercial
Section of the Finnish Foreign Office who had also gone to Wash-
ington on this mission, to assist. The State Department people con-
sidered the Finnish figure of $76,000,000 for an additional credit as
much too high. Mr. Grasbeck admitted that it was high. After dis-
cussions with the State Department people, Mr. Griisbeck had then
taken up his discussions with the Export-Import Bank. There he had
also met a friendly and sympathetic response and there, as in the
State Department, the people with whom he talked were well informed
and asked searching questions.
  Mr. Griisbeck said that there were a good many difficulties in the
way of Finland's obtaining an additional credit. The general world
political situation, the limited funds at the disposal of the Export-
Import Bank, the desire to have private American bankers resume
their prewar functions in the field of foreign trade financing, and a
feeling that credits for a reconstruction [loan?] should be taken up
with the International Bank, all these were important factors.
  Mr. Grisbeck left the United States before the new Export-Import
Bank credit agreement had been signed.3 He expected the agreement
to be signed shortly.
1 Enclosed in despatch 1073, February 10, from Helsinki.
2 Head of the Finnish Cellulose Union, and member of Finnish financial mis-
sions to the United States.
3 The Agreement between Finland and the Export-Import Bank of Washington
establishing a line of credit of $20,000,000 to finance the purchase in the
States of materials, equipment and supplies required for the rehabilitation
the lumber, pulp and paper industry of Finland, and the Agreement establishing
Footnote continued on following page,

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