860D.51/390½

Memorandum by President Roosevelt to the Secretary of State

Washington, January 2, 1940.

I fear we cannot make any large loan to Finland under the R. F. C. [Reconstruction Finance Corporation] Act because, frankly, there is not enough security for its re-payment under the existing law.
Please speak to me, however, about the possibility of recommending to Congress Congressional authority for a loan based on an amount equal to what Finland has paid us on its debt since the other nations stopped paying.

F.D.R.


Source: Foreign relations of the United States. Diplomatic papers. 1940. Volume I. General. (ACTIVITIES OF THE SOVIET UNION IN  E A S T E R N  EUROPE, AND SOVIET RELATIONS WITH THE BELLIGERENT POWERS). Department of State, Historical Division, Bureau of Public Affairs, 1959. (University of Wisconsin Digital Collections)

Previous (Dec. 18, 1939) | Finland in Great Power politics | Next (Jan. 4, 1940).