550.S1 Monetary Stabilization/22: Telegram
The Chairman of the American Delegation ( Hull ) to the Acting Secretary of State
[Received June 18—2:50 p.m.]
41. For the President from Warburg. You may have been wondering why we did not introduce our resolutions in plenary sessions as planned. The reason is that British met our wishes to a far greater extent than anticipated in limiting general discussion which as you know was confined to 3 days after which Conference subdivided into two major commissions, monetary and economic. Having obtained [Page 647] chairmanship of Monetary Commission, and therefore having organization of this Commission very much in our hands, we did not feel any precipitous need for introducing our program but should be just about ready tomorrow or next day to introduce it with every hope of success if stabilization program were out of the way.
Cox has made excellent impression so far having received comments from all sides indicating respect for his sincerity and earnestness of purpose. Believe that he will be able to show real leadership in Monetary Commission and that personal liking for him on part of other delegates will add greatly to our chances for success. We do not feel that we can propose any suggestions of our own until our attitude toward exchange stability during the Conference is clear and we hope very much that we shall be able to obtain your agreement quickly because every day of delay means delay in proposing our program and therefore likelihood of other ideas taking root. Even if we have not been able to meet your wishes completely on technical details we hope therefore that subject to such technical details being satisfactorily arranged you will as quickly as possible endorse in principle the proposed arrangement and express yourself as being in sympathy with the proposed declaration on the basis of which we could then go forward without embarrassment. [Warburg.]