French Currency Stabilisation

Documents from 14 July 1942 to 24 February 1945

Identity Statement

HAEU Reference Code
JMDS-19
Original Reference Code
ROOSEVELT LIBRARY, MORGENTHAU DIARY, BOXES n. 549,557,564,584,602,606,719,725-727,729.730,733,734,735-737, 808,810-812,814-816,818,822
Extent and Medium

243

Physical Medium

Paper

Reference Archivists

Carr, Mary

Context

Immediate Source of Acquisition

FRANKLIN DELANO ROOSEVELT LIBRARY

Content and Structure

Abstract

File containing material from US Secretary of Treasury, Henry J. Morgenthau on French currency problems, includes: requests from French Committee of National Liberation and Jean Monnet for printing of additional amounts of individual franc notes. - Information on French concerns that cent rate too high, press for international stabilisation fund. - Meeting of Treasury Dept. and French Ambassadors, including Monnet, regarding need to build confidence among the French public for the franc. - Letter from Pierre Mendès-France to Morgenthau regarding Comité's decision to extend the N. African rate of exchange to continental France as a provisional measure upon the Allied landing in France. - Discussions on rate of exchange, Mendès-France did not want a permanent rate fixed till after liberation, and need for an international accord to provide framework within which final adjustment could successfully be undertaken. - Memo to Morgenthau from Mr. White of the Treasury Dept. regarding taxation of war profits and confiscation of collaborationist wealth by French Committee. - Memo from Morgenthau to President Roosevelt regarding printing of additional French currency to implement anti-inflatinalry programme in France, letter to Mendès-France regarding terms and conditions upon which the franc notes to be used by the French civilian authorities upon liberation. - Memo for President summarising proposed lend-lease arrangements. Letter to Monnet from Leo Crowley, regarding need for immediate procurement of civilian supplies for metropolitan France. - Text of discussion on French lend-lease arrangements, Monnet states that it would be difficult to explain why France was treated differently than Britain or Russia in terms of lend-lease. - Information on delays in forming terms of lend-lease for France, and leaking of information that France promised Master agreement, promises that Morgenthau was unaware of, highlighted lack of unity between State and Treasury Depts. - Internal memo to Morgenthau from White concerning clash of opinion between Ministers Mendès-France and René Pleven on financial policies to be followed in France. - Report on meeting between Morgenthau, White and Monnet, where Monnet spoke of importance of consumating the negotiations on lend-lease and to present the arrangements to the French people in such a way as would promote good relations between the two countries, Morgenthau convinced it was better to discuss terms of lend-lease before and agreements signed l

Conditions of Access and Use

Languages

English

Type of Archival Materials

Textual

Allied Materials

Location of Originals

The originals are held in various Archives in Europe and in the USA

Publication Notes

CEM/JMAS

Notes

Notes and Remarks

NO PHOTOCOPYING

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