862.51/3806: Telegram

The Chargé in France (Marriner) to the Secretary of State

34. Cochran31 learns through the usual channels that Dr. Schacht32 is today in Hamburg conferring with German exporters who insist upon maintenance of status quo with respect to additional exports. Germany is faced by threats from Switzerland and the Netherlands of imposition of clearance arrangements if status quo is not maintained and by similar threat on the part of Great Britain if situation prejudicial to British creditors is continued. Developments strengthen the belief expressed in my telegram 22, January 9, 1 p.m.33 to the effect that Schacht may arrange some measure of conciliation toward the British. Announcement of the concession which is to be accorded the British creditors will, it is rumored, unhappily surprise American, Swedish and other creditors of the same status.

  1. H. Merle Cochran, First Secretary of Embassy in France.
  2. Hjalmar Schacht, President of the Reichsbank.
  3. Not printed.