July 7, 1949
Memorandum of Telephone Conversation -
Mr. Hoffman telephoned the Secretary when the Secretary was out to lunch. When the Secretary returned his call about 4:15 Mr. Hoffman said that he had placed the call earlier to talk about the messages received from Secretary Snyder, but had since received the draft reply prepared in the Department. He said he thought this message was all right, that the thing to do was stand firm and let the British do the talking, and not depart from this position taken at the NAC meeting. The Secretary agreed with this.
Mr. Hoffman said further he had to go into a press conference in a short while and might be pressed on the British economic question. He had in mind taking the line that Great Britain is facing the same phenomenon we are facing - the shift from buyers to sellers market and that it is hitting her harder because she has further to go in bringing down costs. He might say further the problem is being much over played, and that so far as readjustment is concerned, that is something he doesn't care to comment on. The Secretary told Mr. Hoffman that is exactly the same thing he told correspondents at his press conference yesterday.
L. D. B.
S:DHM