561.311F1/122: Telegram
The Chairman of the American Delegation to the Monetary and Economic Conference ( Hull ) to the Acting Secretary of State
[Received June 29—8:05 a.m.]
78. For Wallace from Morgenthau. At Australian request meeting held this morning. Bruce communicated cable received from his Government authorizing him to agree in principle to reduction in production and fixing of export maxima: conditioned on satisfactory subsequent arrangement with European importing countries. Bruce indicated clearly that Australia would not hold up agreement by an unreasonable demand for European cooperation but insisted that arrangement with Europe must be along realistic lines. Bruce stated that Prime Ministers of Australian States are to meet within 24 hours and Bruce desires to communicate to them whether the three other countries would agree to certain adjustments which would increase their export quota. Our meeting adjourned until 5 o’clock this afternoon. Should like to know promptly what is lowest export limitation that would be acceptable for United States for first year beginning July 1st, 1933, and for second year beginning July 1st, 1934. [Morgenthau.]