611.4131/163: Telegram

The Ambassador in the United Kingdom (Bingham) to the Secretary of State

238. My 234, April 29, 5 p.m. I attended the British Chamber of Commerce dinner last evening at which Mr. Runciman also spoke. He [Page 662] declared that he had long had sufficient faith in those who were engaged in the commerce of this country to believe that they could recover from almost anything, but there were times when Government assistance was required, and we British now come to the end of the era where the Government could allow things to take their natural course.

“I cannot forget that Government activity during the last 3 or 4 years has not only added to our turnover, but has saved us from disaster. Our foreign agreements had aimed directly, and with some success, at regaining what we had lost in markets abroad, by direct negotiation.”

Mr. Runciman then referred to the fact that I was present and added: “The American Ambassador is the representative of a Government which has again and again stated that it wished to see a much freer flow of international trade. In so far as it lends itself to that ambition, they will find us ready to cooperate.”

Mr. Runciman said, in concluding: “Peace is not to be gained through mere emotional appeal; still less by effusive threats. The stabilization of peace depends upon the slow and careful building of a solid substructure of sound political conditions and healthy economic relations between nation and nation. The turn which economic issues take today in large part spells the destiny of tomorrow.”