Office of the Historian

462.00 R 296/2: Telegram

The Ambassador in France (Herrick) to the Secretary of State

[Paraphrase]
Paris, October 13, 1922—12 p.m.
[Received 12:25 p.m.]

397. Your 307 of October 9. I have conferred with Morgan and Boyden.12 All agree that the situation is critical and that some action is imperative. However, Morgan declines flatly to take any initiative maintaining that it is a political matter and the initiative must come from the governments. He is sensitive about restrictions imposed last time on bankers commission13 but is willing to serve again on it if it is reconvened with restrictions removed.

Herrick
  1. American unofficial representative on the Reparation Commission.↩
  2. A committee of bankers, including J. P. Morgan, appointed by the Reparation Commission in April, 1922, to consider conditions under which Germany might raise foreign loans to redeem in part the reparation debt. The committee reported on June 10. The text of the report was released in Paris to the press on the same date.↩