740.001111 A.R./437: Telegram

The American Delegate (Welles) to the Secretary of State

43. The Economic and Financial Advisory Committee agreed upon at Panama is to be a permanent body which will turn its attention to any and all questions of inter-American relationships in these fields in which it may appear that useful result is to be expected. The meeting scheduled at Guatemala is one of treasury representatives for purpose of technical discussion and interchange; there is no expectation that any agreements will be reached at Guatemala or any negotiations undertaken.

I suggest that the Guatemala meeting in carrying on the discussion and interchange on the topics in its agenda could do a useful job in defining the tasks in the monetary and financial field that the permanent committee could undertake and perhaps mail recommendations to it. I see no reason why this meeting should be delayed.2

  1. First meeting of the Finance Ministers of the American Republics, Guatemala, November 14–21, 1939, called in conformity with Resolution LXIV of the Eighth International Conference of American States. See Final Act of the Meeting, Department of State Bulletin, December 2, 1939, pp. 625–631.