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December 5> 1945. Flanders - Boston Willis®* - Philadelphia Giciney - Cleveland McLarin - Atlanta Zoung - Chicago Davis - St. Louis Leach - Richmond Peyton - Minneapolis Leedy - Kansas City Gilbert - Dallas Day - San Francisco Secretary of State Byrnes at i press conference this -afternoon, announced the result of the British credit negotiations and distributed certain documents arising therefrom. The public release date for these documents has been set at 5? 30 p.m./\ tomorrow (December 6 ) . For your strictly confidential Information there follows the text of a joint statement by the President and the Prime Minister and of the Financial Agreement, additional statements and Xh S« proposals for an international trade organization will be sent to you by mail. The amount due to the U.S. in the settlement of lend lease and of U.S. surplus property in the United Kingdom, presently estimated at 650 million dollar* but subject to certain further adjustments, will be made available to the United Kingdom on the same terms as those specified in the Financial Agreement, under authority already granted by Congress in the lend leas® and surplus property legislation. (Insert text of documents attached) Eceles. IKtal* December 6, 19A5. Mr. Ralph !• Fland«ra, President, Federal Reserve Bank of Boston, Boston, I'assachusetts. B«&r Mr. Flanderss Pursuant to my telegram to you of December 5* I &a $nelosing herewith a full set of the doosffients relating to the British negotiations which were distributed at Secretary Byrnea* press conference yesterday afternoon. I plan to send you in th@ near future an analysis of the purposes and terms of the British credit, which ©ay assiet you in evaluating the documents, especially the Financial Agreement. I shotild greatly welcome at any time such views as you may desire to express on the subject. Very truly yours, (Signed) M. S. Fccles E. $» Eccles, Chairman. Enclosure Identical letter to the Presidents of all Federal Reserve Banks except New lork. December 6, 1945• Mr» All&n Sproul, President, Federal Reserve Bank of New York, New York 7, Sew York. Dear Mr. Sproolt I understand that you received, before you left Washington, a set of the documents relating to the British negotiations which were districted at Secretary Byrnes1 press conference yesterday afternoon. I plan to send yoti in the near futxir© an analysis of the purposes and terms of the British credit, which may assist you In evaluating the documents, especially the Financial areat* I should greatly welcome at any tine such views as you may desire to express on the subject• Very truly yours, (Signed) M. S. Eccles M. 8. Eccles, Chairman* December ?, 1945. Mr. Ralph ft. Flanders, President, Federal Reserve Bank of Boston, Boston 6, M&ss&chusettt. De&r Sr« Flander*i "dth further reference to ir.y telegram to December 5 &&d if l e t t e r of yesterday1 s d&te, I &K ing copies of stat^m.ent« which were MftAt yesterday ing the restilt of the British fiegotiationt bj Lord Secretary Byrnes, and Assistant Secretary Cltytoiu you of eRcloaconcernHalifax, t r u i / yours, S. Eccles, Chains an. Fncloeure JBK:irla Identical l e t t e r to the Presidents of a l l Federal Reserve Banks,
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