LETTER TO THE HONORABLE WILLIAM E. SIMON FROM GEORGE BUSH

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP79M00467A003100030027-6
• Release Decision: RIPPUB
• Original Classification: C
• Document Page Count: 7
• Document Creation Date: December 16, 2016
• Document Release Date: June 3, 2005
• Sequence Number: 27
• Publication Date: February 18, 1976
• Content Type: LETTER

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THE DIRECTOR OF CENTRAL INTELLIGENCE .
WASHINGTON, D. C. 20505
7c _fia"~
FEB ~y16
The Honorable William E. Simon
The Secretary of the Treasury
Washington, D. C. 20220
I appreciate your thoughtful letter of 4 February,
stressing the need for high-quality intelligence support
for foreign economic policy. I agree wholeheartedly with
your observations on the desirability of a strong economic
ingredient in our national estimates and, based on my first
impressions here, I believe that we are in a pretty good
position to provide it.
With respect to the Eastern European study you propose,
we share your concern about the implications of current
economic trends and would add a further one: do any of
these countries face, over the next-several years, economic
difficulties so acute as to bring political stability into
question? You will be pleased to know that planning is al-
ready under way on a study focused on the economic outlook for
East Europe in the light of strong adverse trends in. the re-
gion's terms of trade. Because of its wide--ranging political
ramifications, the study is being undertaken initially as an
ad hoc team effort, under the joint aegis of the NIO/USSR and,
the NI0/Economics, with talent drawn from OER, OPR, StatefINR
and the academic community. We would like to involve your
people as well in this project. Whether we should move to a
full-scale National Estimate is a question we will want to
review at a later stage.
In the initial stages we will want to do considerable
data collection and analysis, on which to ground the study,
and we look to you for help in this endeavor. We are pre-
paring detailed requirements on individual countries' trade,
payments and indebtedness to send to our embassies in East
Europe and to those of the major trading partners and lenders
in West Europe. I believe that the Treasury attaches can be
as helpful as the economic counsellors in providing Washington
with the relevant facts, and I hope for their cooperation. It
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might be useful if, when these requirements are dispatched,
you were. to send a message to them bespeaking that coopera-
tion.
I should be very glad of they chance to talk these matters
over with you personally. Once the dust settles a bit out
here, my staff will be in touch with yours to arrange a time.
Sincerely,
TLs/ ~eor~e Bush
George Bush
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February 5, 1976
Dear Mr. Bush:
I am enclosing a letter from Bill Simon on 'a subject that
has interested him for some time. The letter, incidentally,
covers one of the general topics he discussed with the President
during the recent Saturday afternoon session with Cabinet offi-
cials on the organization and management of the intelligence
community.
I am delighted that your confirmation worked out as well
as it did. I'm looking forward to working with you in your
efforts to put all of the pieces back together again--albeit in
a somewhat different form. I do not underestimate the immensity
of your task but I am confident that for the Agency and the in-
telligence community 1976 will end better than it began.
If you wish I would be happy to work with your staff in
arranging a time for you and Bill to get together.
All the best for the future.
Sincerely,
William N. Morell, Jr.
Treasury Representative on the
United States Intelligence Board
The Honorable
George Bush
Director
Central Intelligence Agency
Washington, D. C. 20505
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THE SECRETARY OF THE TREASURY
WASHINGTON 20220
April 2, 1976
Dear George:
. In response to your note of March 31 regarding
the decision of the Committee on Foreign Intelligence
(CFI) to include appropriate elements of Treasury
within the National Foreign Intelligence Program (NFIP)
I would like to nominate Bill Morell as our re resenta-
tive to discuss these activities with E_ I
We have a number of questions as to what is
involved in the CFI's control of budget preparations
and resource allocation and will want to convey to
Admiral Murphy those considerations which will govern
our views on Treasury activities which should be in-
cluded within the NFIP.
Looking forward to my visit with you at the Agency
on April 16.
Sincerely,
The Honorable George Bush
Chairman, Committee on
Foreign Intelligence
Washington, D. C. 20505
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8 April 1976
3637 (1-75) a Date