The Secretary of the Treasury (Morgenthau) to the Secretary of State

Dear Cordell: Pursuant to arrangements agreed upon by representatives of the State Department, Treasury Department, and other interested agencies, copies of the draft proposal for a Stabilization Fund of the United and Associated Nations have been given to the [Page 1058] representatives in Washington of the Governments of the United Kingdom, China and Russia several weeks ago. It was also agreed that copies should be submitted, after a lapse of a week, to the other United and Associated Nations. Mr. Berle and Mr. Pasvolsky have informed us that you are in accord with that procedure.

I am enclosing a copy of the letter of transmittal which I should like to send to the Ministers of Finance of the appropriate countries.9 I understand that the enclosed draft had been approved by Mr. Berle and Mr. Pasvolsky except for the last sentence in paragraph 2. This last sentence is added in response to a request made by the British Treasury officials that we include in our letter of submittal a reference to their study of the problem.

I am appending a list of countries which seem to us to be the appropriate ones to receive a copy of the draft proposal.10 You will note that France and Argentina are not included in the list and that the Government of India is included. The representatives of the British Treasury approved the inclusion of India, Should you wish to have any alteration made in the list, we shall of course do so.

When you approve of this letter, I shall send it with the draft proposal to the Ministers of Finance of the countries indicated.


Henry Morgenthau, Jr.
  1. The letter as transmitted by the Secretary of the Treasury to the Finance Ministers was dated March 4, 1943; for text, see Proceedings and Documents of the United Nations Monetary and Financial Conference, vol. ii. p. 1573.
  2. Ibid., p. 1574.