550.S1/1073: Telegram
The Chairman of the American Delegation (Hull) to the Acting Secretary of State
[Received July 2—3:20 p.m.]
88. For Phillips. I quote below, for your information and that of the President, the text of a statement which I propose to issue Monday forenoon8 in my capacity of Secretary of State and not in my capacity as Chairman of the American delegation.
“I need not add further to my statement of yesterday except to say what the world knows, that the United States, with virtually the solid support of its businessmen and general public, is engaged in the careful effort to bring about an orderly increase in commodity price levels.
The present economic undertaking of the United States, already showing signs of success, sheds full light upon its attitude toward any governmental measures affecting world currencies which might influence or be construed as influencing directly or indirectly the steady advance of the American program.
This definition of the American position does not carry with it any implication that the United States is not in full sympathy with the difficulties of other countries or is not ready to join in any common effort looking to the betterment of world conditions for which purpose the London Conference was called. There is absolutely no reason why the Conference, with the many important measures now before it, should not go forward to a successful conclusion.”
Since I have not yet determined upon the precise hour of release here please do not release in Washington.