811.516 Export-Import Bank/2–2447
The Czechoslovak Ambassador (Slavik) to the Chairman of the Export-Import Bank (Martin)
1673/47
Dear Mr. Martin: Referring to the agreement of July 3, 1946 whereby the Export–Import Bank of Washington, D. C. established a line of credit in favor of the Prague Credit Bank of Czechoslovakia, I would like to draw to your attention that by now the line of credit has been practically consummated. Under these circumstances I take the liberty to ask your advice as to whether it would be appropriate for us to apply formally for the granting of a further line of credit for the purchase of United States cotton on the lines of the previous agreement. Referring to inquiries made informally by the Czechoslovak representatives with the representatives of the Export–Import Bank, I wish to stress the great interest on the part of the Czechoslovak textile industry in continuing the traditional use of United States cotton which interest I feel assured coincides with the endeavors of the American cotton producers to keep open the established channels of trade dating back through many years of successful and mutually satisfactory relations. If, in your opinion, the time is now opportune we would appreciate it if an agreement could be negotiated for the extension of such a credit to the amount of $20,000,000. The agreement would again be signed by the Prague Credit Bank with the guarantee of the Czechoslovak Government.
Sincerely yours,