462.00R296 Bank for International Settlements/71

The Chargé in Switzerland ( Moffat ) to the Acting Secretary of State

No. 1336

Sir: Referring to my despatch No. 1308 of February 14, 1930,32 I have the honor to report that the convention concerning the Bank of International Payments33 was ratified by the Swiss Federal Chambers on February 25, 1930. This took the form of the approval of two decrees, the one putting the convention into force insofar as Switzerland is concerned for fifteen years, the other prolonging the terms of the convention for the life of the Bank. This second decree is subject to a referendary delay which expires on May 27; except for the improbable event of a demand for a national referendum, final [Page 235] ratification of the convention for the duration of the Bank will have been completed on that date.

Preparations are now afoot in Basel for opening the Bank on April 1. In the circumstances, and with a view to receiving advance rulings from the Department I respectfully request instructions as to:

The nature of reports desired with regard to the work or position of the Bank.
Whether the Consulate at Basel should cover such reporting or whether there are certain phases which the Department desires the Legation to follow.
What attitude the Legation should adopt in the event that the American members of the Bank should request assistance.
Whether the Legation should grant such American members any special facilities over and above customary courtesies accorded to all distinguished Americans.

I have [etc.]

Pierrepont Moffat
  1. Not printed.
  2. League of Nations Treaty Series, vol. civ, p. 441.