File No. 841.51/43

The Ambassador in Great Britain ( Page) to the Secretary of State


5885. My 5794, March 5, 1 p.m., and my 5817, March 9, 3 p.m. It would be advantageous if it be possible for me to intimate to the Governor of the Bank of England some answer to his inquiry.

Mr. Harding’s1 proposal to lend our Government’s credit for a large sum to the Allies has made a deep and appreciative impression here.

The subsequent proposal which seems to have been made in a part of our press that money be not lent but given to the Allies has not been publicly discussed nor has any Englishman even mentioned it to me nor will it ever be openly discussed here so long as it is merely a proposal of the press but it would be received and most gratefully appreciated not only because of the help it would give but far more because of the spirit it would show. The moral return to us in ally appreciation and in friendly feeling for the indefinite future would make it the best possible investment towards maintaining a permanent peace.

  1. W. P. G. Harding, Governor of the Federal Reserve Board.