800.515/1003: Telegram
The Secretary of State to the Ambassador in the United Kingdom (Winant)
2937. From the Secretary of the Treasury. Thank you for your cable 2990 of April 12. It has been very helpful to us in understanding the otherwise inexplicable delays of the past months. We have long known that there were no differences between the British and American technicians significant enough to justify the prolonged delay in the publication of the joint statement.
For your information and guidance, I must appear before the Congressional committees on Thursday17 to inform them of the status of our discussions on the International Fund. It is therefore necessary that we receive an answer from the British by Monday18 afternoon at the latest. As I have explained before it would be most helpful if I could inform the committees at that time that the British and American technical experts are in agreement on the statement of principles. On the other hand if I cannot announce agreement with the British, I plan to announce to the committees the principles the American technical experts are prepared to recommend as the basis for international monetary cooperation and to state that they represent the views of the experts of a number of other countries.
I will of necessity be compelled to explain to the committees that the British experts have not to date signified their agreement. Obviously it will be impossible for me to avoid answering a number of questions as to the reasons for the British refusal to go along after such a long period of discussions. Moreover I fear I will also have to announce that the prospects of any conference this year are remote.
[Page 112]While I do not wish to appear in any way to be putting pressure on the Chancellor of the Exchequer I do want you to know what the situation is and you may use your own judgment as to the extent to which you make known these factors to the Chancellor before the Cabinet meeting.
Last evening Opie informed us of certain points which the British want to include in the statement of principles. We have already informed Opie of our reaction to these suggestions and in our view the points have been satisfactorily adjusted. It is our opinion that there is no longer any reason why the British should delay agreeing with us on the publication of the statement, except considerations of the character you indicated in your cable 2990. [Morgenthau.]