033.6511 Grandi, Dino/115

Joint Statement by the Italian Minister for Foreign Affairs (Grandi) and the Secretary of State

Full advantage has been taken of the opportunity afforded by this visit for a frank and cordial exchange of views respecting the many problems of world importance in which the Governments of Italy and the United States are equally interested.

Realizing that restoration of economic stability and confidence within our respective national boundaries can only find ultimate achievement through the further establishment of international financial stability and through a confidence that can extend itself to include all nations, we have attempted to continue the efforts already initiated towards this end by a candid discussion of the many significant and related international problems, the solution of which have become a recognized necessity. The discussions have embraced subjects of such importance as the present financial crisis, intergovernmental debts, the problems surrounding the limitation and the reduction of armaments, the stabilization of international exchanges, and other vital economic questions.

We believe that the existing understandings between the principal naval powers can and should be completed and that the general acceptance of the proposal, initiated by Signor Grandi, for a one-year’s armaments truce37 is indicative of the great opportunity for the achievement of concrete and constructive results presented by the forthcoming conference for limitation of armaments.

[Page 649]

It has not been the purpose of this meeting to reach any particular arrangements, but the informal discussions and exchanges of views have served to clarify many points of mutual interest and have established a sympathetic understanding of our problems. We feel confident that the relationships fostered during this visit will prove valuable in laying the foundations for beneficial action by our respective Governments.