862.51/2943
Memorandum by the Secretary of State
When the British Ambassador called on me today he asked me about Dr. Schacht’s visit. I told the Ambassador he had brought no message from his Government on the subject of Germany’s condition or desires, and that his conversations with me on the two occasions which I had met him had been as innocuous as those of the typical British matron.
I told him, however, that I had reason to believe, from unofficial sources, that Germany had lost a good deal of her credits since the election and was up against a hard situation. He said that he had the same impression.
We agreed that we had a hard winter before us with respect to the effect of the economic depression on the world.