Statement by the Secretary of the Treasury on Rumors of Currency Stabilization

Various reports from London published today concerning an agreement by American delegates to stabilization in some form have been brought to my attention. Such reports cannot be founded in fact.

Any proposal concerning stabilization would have to be submitted to the President and to the Treasury and no suggestion of such a proposal has been received here. The discussions in London in regard to this subject must be exploratory only and any agreement on this subject will be reached in Washington, not elsewhere.