098-1

Date: 
Jul 15, 1963
Participants: 
President Kennedy; Douglas Dillon, Treasury Secretary; Walter Heller, Council of Economic Advisers; Kermit Gordon, Director, Bureau of the Budget; William McChesney Martin, Chairman Federal Reserve System Board of Governors; Robert Roosa, Under Secretary of the Treasury for Monetary Affairs; Franklin Roosevelt, Jr., Under Secretary of Commerce, Department of Commerce
Topic/s: 
BALANCE OF PAYMENTS
Listen: 


The summary below was prepared by the archivists at the JFK Library.

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JOHN F. KENNEDY LIBRARY PRESIDENTIAL RECORDING LOG TAPE 98: BALANCE OF PAYMENTS; PORTUGUESE AFRICA; NUCLEAR TEST BAN TREATY Released 7/2008 7/15/63, 7/16/63, 7/18/63 199 minutes Tape Quality: Good Status: Declassified in Part: 10 excisions totaling 10 minutes 23 seconds have been removed in accordance with Section 3.4 (b) (1), (3) of Executive Order 12958. Balance of Payments: This meeting on the balance of payments took place on the morning of 7/15/63. Conversation centered on analysis of the balance of payments issues and its effect of the deficit. There are also discussions on an increase in the short term rate. Balance of Payments: This meeting on the balance of payments took place on the morning of 7/16/63. The discussions are similar to the ones presented at yesterday’s meeting, only in a larger group. Actions by the Federal Reserve as well as the President’s Special Message to Congress on the Balance of Payments are also covered. In addition, military budget cuts in personnel and in aid, and export-trade difficulties are discussed in detail. Portuguese Africa: This 7/18/63 meeting focuses on the steps to be taken in the United Nations on the issue of a resolution on self-determination for Portuguese Africa. The wording of the resolution, the set-up of any mediation, the level of US involvement, the possible effect upon the Azores base, an arms embargo and how all of these issues will effect the US foreign policy with African nations and with Portugal are discussed. Nuclear Test Ban Treaty: This 7/18/63 meeting provides a forum in which the President and his staff review the “withdrawal clause” in the drafts of test ban treaty and how this would or would not play up on Capitol Hill. There is also discussion on how and when to approach the United Kingdom, France and Germany and related foreign policy issues with each of these countries. Near the meeting’s end there is also discussion about keeping the test ban treaty and the non aggression pact negotiations as separate and distinct entities.
Participants Listing: Balance of Payments: President Kennedy; Douglas Dillon, Treasury Secretary; Walter Heller, Council of Economic Advisers; Kermit Gordon, Director, Bureau of the Budget; William McChesney Martin, Chairman Federal Reserve System Board of Governors; Robert Roosa, Under 138
Secretary of the Treasury for Monetary Affairs; Franklin Roosevelt, Jr., Under Secretary of Commerce, Department of Commerce Balance of Payments: President Kennedy; Douglas Dillon, Treasury Secretary; Robert McNamara, Defense Secretary; George Ball, Under Secretary of State; Luther Hodges, Secretary of Commerce, Department of Commerce; Richard Holton, Assistant Secretary of Commerce for Economic Affairs; David Bell, Administrator, Agency for International Development; Christian Herter, Chief United States Trade Negotiator; Walter Heller, Council of Economic Advisers; Kermit Gordon, Director, Bureau of the Budget; McGeorge Bundy, Special Assistant for National Security Affairs; Theodore Sorensen, Special Counsel to the President; Franklin Roosevelt, Jr., Under Secretary of Commerce, Department of Commerce Portuguese Africa: President Kennedy; Attorney General Robert Kennedy; Dean Rusk, Secretary of State; Adlai Stevenson, UN Ambassador; Charles W. Yost, UN Deputy Ambassador; Harlan Cleveland, Assistant Secretary of State for International Organization Affairs; G. Mennen Williams, Assistant Secretary for African Affairs; Frank Sloan, Deputy Assistant Secretary of Defense for International Security Affairs; Abram Chayes, Legal Advisor Department of State; Robert McNamara, Defense Secretary; William Bundy, Deputy Assistant Secretary of Defense for International Security Affairs Nuclear Test Ban Treaty: President Kennedy; Dean Rusk, Secretary of State; George Ball, Under Secretary of State; Llewellyn Thompson, Ambassador at Large, Department of State; William Foster, Director United States Arms Control and Disarmament Agency; Ben Read, Special Assistant, Department of State
Tape 98 7/15/63, 7/16/63, 7/18/63 199 minutes on 4 CD’s….$18.00
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