840.515 Gold Bloc/12½: Telegram
The Ambassador in France (Straus) to the Secretary of State
[Received October 19—1 p.m.]
777. Embassy’s telegram No. 769, October 17, 4 p.m.15 The conference appointed by the League to conduct an inquiry into the causes, scope, methods and results of the compensation and clearing agreements adjourned sine die at the conclusion of its first meeting yesterday.
It has been learned from the French representative Monsieur Dayras that a decision of principle was reached that the special committee contemplated (but which has not yet been definitely constituted) should first of all examine “clearing” arrangements, properly speaking; [Page 609] that is to say, those which tended to regulate actual payments for exchanges between countries. A questionnaire is to be sent to various countries upon the working of their “clearing” agreements as well as upon those created to establish equilibrium in the commercial exchange of commodities or compensation to achieve a balance of payments.
After examination of the report from the interested countries it is understood that the special committee in question will recommend either modification and amplification of the clearing regimes now in force or their pure and simple suppression. Dayras expressed the opinion that a decision one way or the other cannot be looked for for many weeks. Copy to Geneva.
- Not printed.↩