The Secretary of State to President Roosevelt

Memorandum for the President: In November 1942 we informed the British Government of our readiness to begin informal, exploratory talks with representatives of the governments with which mutual-aid agreements had been concluded concerning the steps to be taken toward formulating plans for giving effect to the post-war economic policies laid down in Article VII of those agreements. The British Government designated two representatives to discuss monetary problems with the Treasury Department but indicated that it was not then ready for discussions of other subjects.

In an aide-mémoire dated August 4, 1943, the British Embassy referred to the foregoing and indicated that it had carried further its study of the various topics and is now prepared to begin informal exploratory conversations in the whole field covered by Article VII with a view to reaching agreement on an orderly agenda for these discussions, and to send a delegation of senior officials to Washington for this purpose. The plan is for these officials to arrive here in about a week, although the discussions will not begin until September 20 or thereabouts.

The Department, after consultation with the Secretary of the Treasury, has replied that it is in accord with the British suggestion and has expressed the view that it would be preferable that the conversations on monetary policy continue in the existing channel; that is, in the Treasury Department between representatives primarily of the two treasuries; also that the Treasury representatives should deal with the subject of international investments. It was further stated that this Government is making the necessary arrangements for conversations on commercial policy, the regulations of primary products and related subjects, to take place in the Department of State.

It is my intention to ask Mr. Myron Taylor to carry on the discussions in the latter fields on behalf of the United States with the assistance of the following officers of this Government:

  • State Department
    • Leo Pasvolsky, Special Assistant to the Secretary of State
    • Herbert Feis, Adviser on International Economic Affairs
    • Harry C. Hawkins, Chief, Division of Commercial Policy and Agreements
    • John D. Hickerson, Assistant Chief, Division of European Affairs
    • Leroy D. Stinebower, Chief, Division of Economic Studies
  • Treasury Department
    • Harry D. White, Assistant to the Secretary and Director, Division of Monetary Research
  • Commerce Department
    • Will Clayton, Assistant Secretary
    • Amos E. Taylor, Director, Bureau of Foreign and Domestic Commerce
  • Department of Agriculture
    • Paul Appleby, Under Secretary
    • Leslie A. Wheeler, Director, Office of Foreign Agricultural Relations
  • Tariff Commission
    • Oscar B. Ryder, Chairman
    • Lynn E. Edminster, Vice Chairman

I should appreciate being informed whether the foregoing meets with your approval.23

I have advised the Governments of Soviet Russia and China of our readiness to enter into similar discussions with representatives of those Governments, respectively.

C[ordell] H[ull]
  1. The President’s “OK” appears on the file copy.