840.515 Gold Bloc/4: Telegram (part air)
The Consul at Geneva (Gilbert) to the Secretary of State
[Received October 5—6:30 a.m.]
287. Consulate’s 257, September 21, 2 p.m.7
1. Following the approval of the Second Committee’s resolution by the Assembly the Council passed the following resolution on September 28th.
“The Council
In conformity with the resolution adopted by the Assembly on September 26th, 1934,8 on the unanimous proposal of the Second Committee.
Requests the economic and financial organization of the League to make an inquiry into the causes, scope, methods and results of compensation and clearing agreements.
Requests the Economic Committee and the Financial Committee of the League to create a joint committee composed of not more than ten persons members of these committees or others to supervise the inquiry and to report upon the conclusions to be drawn from it.
Authorizes the joint committee to secure whenever necessary the collaboration and advice of member[s] of any administration concerned or of qualified experts.
[Page 597]Finally, in view of the importance of the enquiry, requests all governments to give the fullest assistance within their power to the joint committee.”9
2. Stoppani informs me that the Economic Committee will probably select from its members the nationals of Great Britain, Italy, France, Switzerland and Austria to serve on the joint committee.
As it is expected that the commercial aspect of the investigation will predominate he hopes that the Financial Committee which is expected to meet in about 10 days will nominate its Polish, Czech, and only one other member leaving two additional places to be filled by the Economic Committee. For these he has in mind suggesting the Hungarian and the American members.
It is envisaged that the joint committee will meet toward the end of January and probably in Geneva.
It will be noted that no representation of overseas states is at present arranged although thought is being given to the inclusion of certain Latin American states, particularly Argentina and Chile, in the function of collaboration.
3. Stoppani states that he feels that the work would be aided by the presence of an American and that he sees an American interest possibly involved in that these questions although apparently technical may raise important general monetary issues which would interest the United States as a creditor nation. He asks that he be informed if possible confidentially and personally of the reaction of the Department in respect of its interest in this matter feeling that if the Department desires it arrangements might be made for American participation in some form in this work.
There are three ways in which participation might be effected:
- (a)
- The Economic Committee might select for this service its American member and it would be useful to know if Rogers would wish to be present or send a substitute.
- (b)
- It could probably be arranged at this end for an American official as a collaborator; the League would not bear the expenses of a government official.
- (c)
- It might be arranged for an American national to be invited to collaborate in an expert capacity in which the League would pay his expenses.
While the question of the composition of the joint committee will shortly be concluded the entire matter of “collaboration” is still nebulous.
Please instruct as to what reply I may make to this inquiry.