710G1A/291: Telegram
The Chairman of the American Delegation (Hull) to the Acting Secretary of State
[Received December 6—12:45 a.m.]
29. At today’s meeting of Steering Committee Puig presented his entire financial program comprising debts with moratorium, silver including bimetallism, exchange stabilization and other subjects. It looked entirely favorable for him after his elaborate speech of Monday damning creditors and playing up debtors. He would not consent on yesterday to a discussion without any action on his proposal. I made a statement at today’s meeting of Steering Committee setting forth our viewpoint in most essential respects but so handling the situation as to encourage others to join the opposition. Accordingly Foreign Minister Lamas of Argentina, Foreign Minister Franco of Brazil and Foreign Minister Cruchaga Tocornal of Chile fell in line with result that entire Puig proposal after 2½ hours debate unanimously was referred to subcommittee of five composed of the United States, Argentina, Brazil, Mexico, and Colombia which will meet tomorrow immediately after the Steering Committee.
Organization of all 10 committees of the Conference was completed today and the hours set for their meetings beginning tomorrow. The committees will be referred to hereafter by numbers which will follow the numbering of the chapters of the program with the addition to committee number 9 which will consider certain topics of chapter IV and committee number 10 which will be charged with the coordination of the work of committees 4 and 9.
Committee number 1 and committee number 4 will meet every day; the other committees will meet every other day.