890F.515/40: Telegram
The Secretary of State to the Minister Resident in Saudi Arabia (Moose)
70. Your 122, September 13, noon. Officers of the Department and of the Treasury have discussed Saudi Arabian financial matters with British Embassy and British Treasury officials in Washington, expressing the interest of this Government in these matters and indicating the desirability of initiating discussions of a technical nature to determine in what way it may be possible for the United States and British Governments to participate jointly, and in substantially equal measure, in the formulation and implementation of plans for the institution of a sound long-range currency system in Saudi Arabia. These British officials stated that they would take the matter up with London immediately.
In view of this development it is not considered advisable for you to suggest to Saudi Arabian officials that they refrain from entering into any commitments before the completion of formalities regarding the lend-leasing of silver. To do so might convey the impression that the United States and British Governments are working at cross purposes; whereas, in fact, it is expected that the two Governments will work together and cooperate fully in regard to these matters. You should, however, inform the British Legation in Jidda of the nature of the conversations which have taken place in Washington.