Letter to the Director, Bureau of the Budget, Concerning Balance of Payments Statistics.

[ Released April 24, 1963. Dated April 23, 1963 ]

Dear Kermit:

I am pleased to learn of your decision to appoint a Review Committee for Balance of Payments Statistics.

You are aware of the urgency which I have attached to progress toward a rational solution of our balance of payments problems of recent years. An adequate body of balance of payments statistics reflecting our transactions with the rest of the world is an indispensable tool in this effort. While recognizing the high regard in which our balance of payments statistics are currently held, I accept the view of those who prepare and use them that a review of the concepts, statistical foundations, and mode of presentation of this body of data would serve a most useful purpose. The panel of independent experts whom you have selected should be able to make a significant contribution.

Please express my appreciation to those who have agreed to accept this important assignment, extend to them my best wishes for success, and assure them that they will have the fullest support from those in government to whom they will look for cooperation.

Sincerely,

JOHN F. KENNEDY

[Honorable Kermit Gordon, Director, Bureau of the Budget, Washington, D.C. ]