Foreign Relations of the United States Diplomatic Papers, 1934, General, the British Commonwealth, Volume I

840.515 Gold Bloc/19

Protocol Signed at Brussels on October 20, 1934, by the Chiefs of the Belgian, French, Italian, Luxemberg, Polish, and Swiss Delegations ¹⁶

Brussels, October 20, 1934

[Translation]

The undersigned Governments:

Convinced, as they affirmed in London in July, 1933, that currency stability is one of the essential conditions for a return to a normal economic situation;

Being of the opinion that by ensuring the stability of their currencies they are contributing to the restoration of the world economy;

Confirm their intention to maintain the present gold parity of their respective currencies;

Recognizing that their common monetary policy implies the development of international trade, which should be assisted between them by the similarity of the monetary conditions existing in their respective countries;

Agree: I. to form a General Commission composed of their respective delegates;

II. With regard to commercial exchanges: (1) to see in what manner it is at present possible to increase trade among their countries. They regard it as desirable to increase by 10% the global volume of trade effected from July 1, 1933, to June 30, 1934;

(2) to open bilateral negotiations to this end without delay with the object of completing them within a maximum period of one year;

(3) to submit a draft international convention relating to commercial propaganda, to which they give their approval in principle, for study by a sub-committee composed of representatives of each of the Governments signing this protocol, with the aim of establishing a final text of the convention so as to permit of its signature in the near future;

III. With regard to touring and transport, to form two sub-committees composed of representatives of the Governments with the aim of reporting to the General Commission on the proposals which the Commission now has before it and which will be submitted to it later;

IV. To call together without delay the sub-committees here proposed and to convene a meeting of the General Commission in Brussels in three months’ time to take note of the position reached and to settle the continuation of its programme without losing sight of the interests of third parties and the necessity of a more extensive collaboration in the international field.

16. Copy transmitted to the Department by the Ambassador in Belgium in his despatch No. 281, October 25; received November 9.