462.00 R 296/410: Telegram
The Ambassador in France (Herrick) to the Secretary of State
[Received July 10—7:48 (a.m.?)]
336. The British Ambassador, who has just been at my house to see me, tells me that the conversations between Herriot and Mac-Donald have been very satisfactory and that the Prime Minister and Premier Herriot expect their Parliaments to be satisfied with their explanations. Principal obstacle to an agreement was question of who was to decide a German default. Finally settled that they would leave it to an American, presumably the Agent General, and Owen Young’s name was mentioned. I gather, however, that they are somewhat perturbed lest you might not agree to this solution, but sincerely hope you will find it possible to do so, as it is the only one they have in sight.