800.51W89 France/733

The French Embassy to the Department of State 72

[Translation]

The French Government, seriously concerned with the effect that the problems arising from the intergovernmental debts are having on the world-wide depression, deems it of vital importance to approach the Government of the United States, asking it to cooperate in examining this question in a spirit of frankness and true friendliness.

During the months of June and July last, the Governments of Europe assembled in Lausanne with a view to averting to the very best of their ability the difficulties arising from the payments which these debts entail.

Basing its action upon the principles which were expressed in the joint communiqué issued on October 25, 1931, by President Hoover and Mr. Laval at the conclusion of their discussions, and which were the logical development of the proposal made by the President of the United States in June, 1931, the French Government, certain of being [Page 728] in close accord with the ideas of the American Government, voluntarily agreed to very heavy sacrifices at Lausanne, hoping thereby to appease resentment existing among nations, and at the same time to make a contribution toward economic recovery and toward the consolidation of peace.

Important as were the effects of the Lausanne Conference, it must be said that the economic and financial difficulties which stand in the way of a resumption of normal relations between nations are still present, and that a further effort must be made to put an end to them in the interest of all.

The attitude which France displayed at Lausanne and at Stresa73 is proof of the active interest which she attaches to the prompt economic recovery of Europe and of the effort which she still contemplates making toward fulfilling this task. France is no less anxious to cooperate in bringing about the success of the world-wide Economic and Monetary Conference.74

It is in this very same spirit that the French Government today proposes to the Government of the United States to join with it in a further study of the debt question. Inasmuch as such a study will, by virtue of circumstances, require too much time for speedy conclusion to appear probable, the French Government asks that, in accordance with the process followed at Lausanne, an extension of the suspension of payments may be granted to the French Government in order that the study of the present serious problems now under discussion may be continued and completed in the necessary atmosphere of mutual trust. The French Government is further convinced that such a step would have the most helpful effect on the monetary crisis which threatens so many nations.

Trusting in the high wisdom and the spirit of justice of the American Government, the French Government is convinced that its point of view will be understood and that the request contained herein will be favorably received.

  1. Handed to the Secretary of State by the French Ambassador, November 11 (see infra); copy transmitted to President-elect Franklin D. Roosevelt.
  2. Conference for the Economic Restoration of Central and Eastern Europe, September 5–20.
  3. For preliminary negotiations, see pp. 808 ff.