462.00R296/4030
Memorandum by the Secretary of State of a Conversation With the French Ambassador (Claudel)
The French Ambassador called this afternoon at Woodley, and said he had a note from his Government in relation to the President’s statement.45 He gave to me verbally the substance of this statement. I took it down as he stated it, as follows:
- 1.
- “France appreciates very much what America has done in showing a spirit of solidarity. France considers that such a spirit is a very vital and important element of the situation and appreciates it” (this demonstration of it).
- 2.
- “Many problems of the first order are implicated in which France wants a delay of a few days.”
- 3.
- “France is very responsive to the call of the President and will do all that is possible to cure the situation in a spirit of solidarity with America.”
I told him that time was of the essence, the crisis was one of confidence and credit, and therefore the psychological element played a large part in the run of it. I said that if France met us with quick, generous appreciation of the President’s spirit and at once professed herself to be in accord with his general proposition, even if she necessarily reserved certain details and technicalities for discussion, it would have a great effect in curing the situation. I, therefore, expressed my hope that France would not delay long and would express herself as being in accord with the general proposition.
[Page 43]The Ambassador said it was not a question of long delay, but a day or two. As for my suggestion of an expression of general accord, he asked me if I would draw up a suggestion which he could send to his Government. I then went to my library, leaving him sitting in the garden with Mrs. Stimson, and I drafted the following suggestion:
“The French Government welcomes the suggestion of President Hoover and believes that his proposal of a general suspension for one year of payments on all intergovernmental debts and reparations would be a most helpful method of restoring world confidence and of giving to the debtor governments an opportunity to regain their stability. The proposition involves details and technicalities which the French Government has not yet had time to study, and which it will perhaps desire to discuss with the American Government, but with the general proposition it is in hearty accord.”
He took it and suggested striking out the word “perhaps” in the last sentence, because he said his government would certainly want to discuss some points, and then said he would send the suggestion to his government.
I pointed out to him that the central thought in President Hoover’s proposition was that a wise creditor gives time to his debtor, and this was a suggestion to give time to the government debtors of Central Europe for one year so that they could recover their breath and get on their feet. He said he appreciated the situation, and as he went away he repeated to me that the essential idea is the giving of time.