Editorial Note
On July 7 the ECA released to the press a statement that the Council of the OEEC on July 2 had reached unanimous agreement on the principles on which the intra-European payments system for 1949–1950 should be based. The statement outlined the principal features of the new agreement and stated that Mr. Harriman had participated in the deliberations leading to it. The ECA also released on July 7 a statement by Mr. Hoffman expressing pleasure that the Council had accepted the new plan, which represented “a significant step toward the reestablishment of European trade on a sound basis”, and setting forth his views as to how it should be applied. For the texts of the two statements, see Department of State Bulletin, July 25, 1949, page 115. In telegram Torep 6280 to Paris, July 7, not printed, ECA sent the text of Mr. Hoffman’s message for the Secretary General of the OEEC and informed OSR that it contained the principles that ECA would follow with regard to the working of the Intra-European Payments Plan. (ECA Telegram Files, FRC Acc. No. 53A278, Paris Torep)