550.S1 Monetary Stabilization/7

The Acting Secretary of State to Mr. James P. Warburg 40

My Dear Mr. Warburg: In accordance with the suggestion of Doctor Oliver M. W. Sprague of the Treasury Department, I should be glad to have you establish a liaison between the American Delegation to the London Conference and the conversations which Doctor Sprague and Governor Harrison of the Federal Reserve Bank of New York are planning to hold with representatives of the British and French Governments and central banks. These conversations are in connection with the stabilization of the monetary situation. I leave to your judgment and discretion the best means of establishing this liaison.

Sincerely yours,

William Phillips
  1. Vice Chairman of the Board of Directors, Bank of the Manhattan Co.; Financial Adviser on the American delegation.