710.J/4–1648: Telegram
The Ambassador in Colombia (Beaulac) to the Acting Secretary of State
Delbog 76. Daily Summary #15. Steering committee approved following redraft second sentence article 36, Organic Pact transmitted Delbog 75 “In case armed attack within territory American states or within region delimited by existing treaties, meeting Foreign Ministers shall be held without delay by immediate convocation president governing board who at same time will convoke board”.
Began discussion inclusion rights duties states in Organic Pact, favored by Chile, Mexico, Colombia, Costa Rica, Panama and Haiti.
Committee Two subcommittee provisionally approved article 34, 37, 38, 40 Organic Pact. No substantial change.
Martin addressed economic committee indicating that role Export Import Bank is supplementary to World Bank as principal intergovernmental source development credits and stressing requirements of no competition by Export Import Bank with private capital and necessity reasonable assurance of repayment. Stated bank can make private loans without governmental guarantees if sufficient assurance of repayment and added that although rarely justified bank can make loans cover local currency requirements.
Economic committee approved with chairman US opposing addition to article 3 draft economic agreement paraphrasing paragraph 5 resolution 46 Chapultepec1 reaffirming necessity of equalizing terms of trade between raw material producing countries and industrialized countries. Working group, Argentina, Bolivia, Chile, Colombia, Ecuador, [Page 47] Mexico, United States appointed consider Bolivian proposals re increase prices raw materials; no synthetic competition with natural products; no MFN clause in IA contiguous country agreements; and obligation by industrially developed countries to cooperate so that others may export raw materials in quantities and under conditions favorable to latter.
Sub-committee, economic committee approved chapter 8, economic agreement on travel including US amendment. Also approved Bolivian recommendation that IA, ECOSOC and Juridical Council prepare agreement re abolition passports. Also approved US travel resolutions.
Committee Six decided abandon sub-committee and take up following subjects in order: rights duties man, recognition colonies, preservation of democracy. On first item Argentina favored declaration to be annexed organic pact including essential social guarantees.