500.A15a3/1487
Memorandum by the Chief of the Division of Western European Affairs (Marriner) of a Conversation With the Italian Ambassador (De Martino)
The Italian Ambassador called to inform me that he had received a further telegram from Rome with respect to the difficulties which have supervened with the French at the last moment on the naval agreement.
Mr. Grandi states that up to the present time the French representative on the Drafting Committee in London has not presented any figures of replacements desired by France for the years subsequent to 1936, and that therefore it makes progress extremely difficult in any effort to find a formula. Mr. Grandi feels that since the whole purpose of the Italians in the negotiation has been to establish a holiday until 1936, any change in the agreement which would open the whole matter up for practically unlimited construction prior to the termination of the agreement of 1936 would completely destroy the value to Italy of an agreement. In fact the essential purpose of Italian policy in the matter has been to stabilize the condition of the respective fleets until that date, and Mr. Grandi felt that the bases of agreement as established between the countries had been definite on this point, ruling out all these questions until the end of 1936.