Secretary Herter said the Department of State wanted to
walt until after the Italian mimicipal elections tojreview
the policy paper because it did not want to prepare itwo papers
so close together. Mr. Scribner said he was conc
dad about
the situation in Italy, including the possibility
t Italy
might begin asking for gold from the US in payment
the large
and rapidly increasing dollar balances held by I
as a result of its world-wide trade transactions. There
& mumber
of factors which should be brought before the Plannimg Board.
US policy toward Italy was an old one; many developments since
its adoption should be carefully examined. Secretary Herter
said his only objective was to avoid a proliferation of papers.
If Treasury had specific recommendations he would be glad to
consider them, but he did not want to look at the entire Italian
policy paper at this time. Mr. Scribner said he did] not know
what changes would be required, but he would like an! opportunity
to examine the paper in the Planning Board and see if any changes
were necessary. Mr. Stans suggested that the Plannifg Board
might start work on a revision of NSC 5411/2 now, buf should not
submit it to the Council for consideration until the|results of
the Italian minicipal elections had been assessed.
f$ecretary
Herter said he had no objection to the procedure suggested by
Mr. Stans.
The National Security Council:
a.
Discussed the timing of a review of NSC 5411/42 on the
subject, in the light of the discussion undey Item 2
above.
b. Agreed that the NSC Planning Board could progeed with
a review of NSC 5411/2, with the understanding
that a
complete revision should not be submitted for Council
consideration until the results of the forthqoming
Italian minicipal elections have been taken
ito account.
cific amendments to NSC 5411/2 are required
before the
Meanwhile, if the Plamning Board believes
results of these elections, such amendments
mitted for Council consideration.
4,
any spe-
may be sub-
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