Papers relating to the foreign relations of the United States, 1929, Volume II

462.00R294/710: Telegram

The Ambassador in Germany (Schurman) to the Secretary of State

Berlin, November 29, 1929—5 p.m.
[Received 9:27 p.m.]

241. From Wilson.

The German Foreign Office has sent me in confidence copies of notes which it has just received from the Belgian, British, French and Italian Governments concerning our agreement. These notes so far as regards the substantive part are practically identical.

The following is the text of the British note, dated November 20th, addressed to Jaspar by Snowden.⁸¹

“I have to acknowledge the receipt of your letter of the 11th [29th] ultimo, in which you are good enough to inform me of a verbal communication made to you by the German Minister at Brussels, relative to the method of payment of the United States share in the annuities fixed by the Young Plan.

While His Majesty’s Government had hoped that all the countries concerned would have agreed to receive their share in the annuities through the agency of the Bank for International Settlements, as was contemplated in the Young Plan, they nevertheless, for their part, acquiesce in the proposal. In doing so His Majesty’s Government of course assume that the German payments to the United States will be governed by the same conditions as the payments to the bank for account of the other creditor Governments, so that there should at no time be any discrimination as regards either payment or transfer between the share of the United States and those of the other creditor Governments, and that this principle will find its place in any document entered into between the two countries. Should the German Government accord to the United States conditions more favorable than those affecting the remainder of the annuities, the other creditor Governments would naturally reserve the right to require the same privileges to be extended to them.

His Majesty’s Government consider that the German Government should be so informed and requested to take account of the views expressed in the terms of any agreement it may negotiate with the United States. They should further be requested to transmit the text of the agreement, when concluded, to the other creditor Governments so that they may consider the framing of an appropriate convention to enable effect to be given thereto.”

I shall see the Germans tomorrow and get their reaction to the above. [Wilson.]

Schurman

81. Philip Snowden, British Chancelor of the Exchequer.