Important talks on finance... into London, UK, Nov 25, came Robert Anderson, Secretary of the?
Important talks on finance... into London, UK, Nov 25, came Robert Anderson, Secretary of the United States Treasury, and Douglas Dillon, U.S. Under-Secretary of State for Economic Affairs. And as they arrived, it was announced in Washington, U.S.A., that American gold reserves have fallen below 18,000,000,000 dollars (about GBP6,500,000,000) for the first time since 1940.
Anderson and Dillon arrived from Paris, France, after finance talks there. Before Paris, they had been in Bonn, West Germany, seeking a substantial direct cash payment to help support American troops in West Germany; but the Federal Government refused.
At London Airport, the two Americans - accompanied by their wives - were met by American Ambassador to Britain, John Hay Whitney. Anderson and Dillon then went to Britain's Treasury for talks with British Chancellor of the Exchequer, Selwyn Lloyd, and senior officials. Later followed meetings with Lord Privy Seal Edward Heath; President of the Board of Trade, Reginald Maudling; and Governor of the Bank of England, Lord Cobbold.
Their urgent topic was the present position of the American economy and how it is affecting other Western nations. It was understood in London that Anderson and Dillon did not ask Britain to increase her financial contribution to N.A.T.O. in view of the Bonn rebuff. They return to Washington Nov 26.