exchange arrangements. (Next sentence should be regarded as Secret.)
It was not Finland's policy to ask for assistance from Soviet Union.
  As to International Bank, President said Finland would wish in due
course to become member. Finland would probably have to have peace
treaty first and would also have to subscribe capital and conform
with other regulations. This would take time, and it would probably
be 1948 before it could be done.
  I mentioned that desire of American Government to see reestablish-
ment of trade facilitated and interest of American people in Finland
had been evidenced during especially critical postwar period by sub-
stantial credits and relief which I enumerated. All these forms of
assistance could not continue indefinitely. Some were emergency. It
was desirable to get back to normal arrangements. I had no informa-
tion other than that which I received in August already communicated
to Finnish Government regarding my Government's attitude toward
any further credit to Finland. I would, of course, report what
President had said and communicate to him my Government's reaction.
  Paasikivi with marked earnestness again asked that careful con-
sideration be given to Finland need for credits in 1947. Discussions
regarding it would take time, and he would like to have them started
in near future and have Graesbeck go USA for that purpose. Ex-
actly how credits would be arranged was technical question. Credits
needed for Finland were small compared with some countries. Fin-
land would repay and wanted additional credit to make itself free.
  He said no publicity would be given my call.
  President had pile of statistical papers before him but talked only
in general terms. Am sure Finnish Government would gladly supply
any data our government might desire.
  I should appreciate receiving reaction Department and Exim Bank
and indication what reply Department desires I make to President
Paasikivi. Any background factors including reaction of Exim Bank
to data already presented by Finns would be helpful.
                                                       HAMiLTON
860d.51/9-3046: Telegram
The Acting Secretary of State to the Minister in Finland (Hamilton)
CONFIDENTIAL                 WASHINGTON, October 9, 1946-7 p. m.
  262. Urtel 709, Sep 30 [27] and 713, Sep 30. Dept keenly aware
Finland's need of credit. In July Eximbank asked Finnleg to present
info on Finn situation (mytel July 9 11) before deciding to receive
Finn special delegation for discussion further 1946 credit. Bank
felt data presented by Finnleg did not demonstrate sufficient need for
   Telegram 126, not printed.
     777-752-69  17



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FINLAND