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Statement by the President Concerning Payment of Procurement Obligations to France.

October 15, 1947

THE FRENCH GOVERNMENT has informed this Government that a sum in excess of $80 million remains to be paid by the United States to France on account of procurement obligations incurred by the United States Army in France and North Africa after September 2, 1945. The auditing of the basic records, which is now in process, is being pressed forward so that settlements can be reached as promptly as possible.

In the interim, in order to help the French Government meet its immediate dollar requirements for essential imports, I have today authorized the Secretary of the Army to purchase from the French Government francs in the equivalent of $50 million, such francs to be used in payment of procurement obligations or for other expenditures of the United States Government.

Harry S Truman, Statement by the President Concerning Payment of Procurement Obligations to France. Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/232426

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