Series - Correspondence

President J. McCloy Correspondence - Correspondence 02 President Truman's letters President J. McCloy Correspondence - Correspondence 01

Identity area

Reference code

WB IBRD/IDA EXC-01-01

Title

Correspondence

Date(s)

  • 1947 – 1949 (Creation)

Level of description

Series

Extent and medium

0.20 linear feet of textual records

Context area

Archival history

Immediate source of acquisition or transfer

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Scope and content

This series contains fragments of John J. McCloy's correspondence with political leaders and prominent businessmen during his time as President of the World Bank from March 1947 to May 1949. The most substantial bodies of correspondence are with Emilio G. Collado, U.S. Executive Director of the World Bank, 1946-1947; Russell C. Leffingwell, Chairman of the Executive Committee of J.P. Morgan and Co. Inc.; and Bernard H. Baruch, American financier and stock investor.

The correspondence with Emilio Collado consists of letters and memoranda to McCloy regarding World Bank activities, including excerpts from memoranda Collado prepared for U.S. Secretary of State Dean Acheson and a document entitled "Note Relating to a Debt Limit" dated May 1947. McCloy's correspondence with Russell C. Leffingwell includes substantive comments on topics related to the Bank and its operations, such as money stabilization, sterling devaluation, the Bank's lending philosophy, and the prospects for European recovery under the MarshallPlan. Letters to and from Bernard H. Baruch include: a letter related to an Export Import Bank loan to England; a letter sent by Baruch to John Snyder, U.S. Treasury Secretary, on how to stimulate production in the world; and a copy of McCloy's memoranda to Snyder on lending.

Also included are McCloy's answers to questions from U.S. House of Representatives member Howard Buffet and U.S. Senator Leverett Saltonstall. Finally, a letter from Secretary of the Treasury John Snyder forwarding an August 1947 memoranda by U.S. President Harry Truman is also included. It concerns U.S. Ambassador to Chile Claude Bowers' complaint about Wall Street control over the operations of the Bank.

Appraisal, destruction and scheduling

Accruals

System of arrangement

Arranged chronologically.

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Conditions governing access

Records are subject to the World Bank Policy on Access to Information.

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Records are subject to the Copyright Policy of the World Bank Group.

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An inventory list is available here.

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Rules and/or conventions used

Internal World Bank Group Archives rules based on ISAD(G).

Disclosure status

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Dates of creation revision deletion

22 July 2015

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