File No. 893.51/1946
The American Group to the Acting Secretary of State
Sir: For your information, we desire to make clear that the American group, as already constituted, has designated the following institutions to act as a managing committee in connection with the whole matter:
J. P. Morgan & Co., Kuhn, Loeb & Co., the National City Bank of New York, Guaranty Trust Company of New York, Continental & Commercial Trust & Savings Bank of Chicago.
In other words the organization is now already in such shape that it can undertake active discussions with reference to any proposition that may be laid before it.
It occurred to us that possibly you might deem it necessary for us to wait until we had received replies from all the institutions whom, acting according to your wishes, we had invited as participants in this proposed business; but some of these institutions are in the far West and it may be ten days before we could receive a reply, and we desire to make it clear meantime that we are in a position to proceed.
In view of this situation perhaps you would deem it wise to bring us in touch in due course with the representatives of the British, French and Japanese groups; they with the American group constituting the so-called new four-power group.
In this connection we submit for your consideration whether it would not be wise for your Department to suggest that America be made the headquarters of the four-power group. When the old six-power group was an active organization you will remember that conferences were held alternately in London and Paris, and that the [Page 184] groups from continental Europe took a leading share in the business. If, however, the situation is materially changed so as to force America and Japan to take the lead, would it not be wise to have that recognized by constituting the headquarters for the international group in this country?
Yours respectfully,
For the American Group