- 1947 - 1949 (Creation)
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Administrative / Biographical history
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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 (March 1947 - 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.
The correspondence with Emilio Collado consists of letters and memoranda to McCloy regarding World Bank activities. It includes excerpts from memoranda Collado prepared for U.S. Secretary of State Dean Acheson and a Note Relating to a Debt Limit of May 1947. McCloy's correspondence with Russell C. Leffingwell includes exchanges of substantive comments on the Bank and its operations, such as the prospects for European recovery under the Marshall Plan, lending philosophy, money stabilization, and sterling devaluation. Letters to and from Bernard H. Baruch concern the Export Import Bank loan to England, a letter sent by Baruch to John Snyder on how to stimulate production in the world, and a copy of McCloy's memo to U.S. Treasury Secretary John Snyder on lending.
Also of interest to the researcher are McCloy's answers to questions from U.S. House of Representatives member Howard Buffet and U.S. Senator Leverett Saltonstall and a letter from Secretary of the Treasury John Snyder forwarding a memo by Harry Truman concerning U.S. Ambassador to Chile Claude Bowers' complaint about Wall Street control over the operations of the Bank (August 1947)
Appraisal, destruction and scheduling
System of arrangement
Records are arranged in three folders:
- Correspondence (Baruch, Bernard M.; Buffett, Howard; Churchill, Winston; Leffingwell, Russell C.; Saltonstall, Leverett; SKF Industries [William L. Batt]; U.K. government [Oliver Franks, Richard Stafford Cripps]; U.S. government/White House [John R. Steelman; Drew Dudley]
- Emilio G. Collado correspondence
- Harry S. Truman's letter (original)
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Related units of description
- See Records of General Vice Presidents and Managing Directors (WB IBRD/IDA MDS); Garner has a few pieces of correspondence with McCloy.
- Records of Office of External Relations (WB IBRD/IDA EXT), has records of speeches and public appearances of President McCloy.
- Joint Bank/Fund Library collection on Presidents of the World Bank (WB IBRD/IDA PRES), has a file on McCloy.
- Reference collection on World Bank history (WB IBRD/IDA REF), has duplicate copies of McCloy papers from Amherst; the John J. McCloy Papers are in the Archives, Amherst College, Amherst, Massachusetts.