800.51 W 89France/44: Telegram

The Ambassador in France ( Herrick ) to the Secretary of State

[Paraphrase]

550. Had most satisfactory talk at lunch today with Premier Herriot, Minister of Finance Clémentel, and M. Bunau Varilla, owner of Le Matin. Herriot believes that France’s debt to us should be funded, [Page 133] and that in the circumstances question of reduction should be avoided. He said that precipitate action, however, would be dangerous and that it would be necessary beforehand to prepare a healthy public opinion. This attitude highly satisfactory in my opinion, as until today I had feared that in order to consolidate his position Herriot might hurry negotiations too much. It was also in my mind that Ambassador Jusserand before leaving Washington might endeavor to press matters to a conclusion. A greater consideration than need for haste is danger of an adverse vote in Parliament.

Premier stated that he would in near future submit to me for my suggestions and criticisms plan for debt funding having Clémentel’s approval. He said that if you found plan feasible in principle even with modifications, then manner of negotiating further could be considered. He feels that there are manifest advantages in proceeding in this way in matter. He was uncertain as to British attitude but wished me to tell you that as result of discussions with Austen Chamberlain20 during latter’s recent visit to Paris they had reached cordial agreement regarding many points.

Herrick
  1. British Secretary of State for Foreign Affairs.