Statement on Economic Resources of Germany

This Government has been informed that the Reparation Commission is considering the establishment of two expert committees, one to consider the means of balancing the budget of Germany and the measures to be taken to stabilize her currency, the other to take up the question of the capital which has been removed from Germany.

The inquiry of the first committee would comprehend all the conditions to be realized and the measures to be taken to accomplish the results desired. All the representatives of the Governments members of the commission have expressed the desire to have American experts on the two committees. It is understood that the Government of the United States is not in a position to be represented on these committees and that the invitation to the American experts will be extended directly by the Reparation Commission.

This Government believes that the proposed inquiry will be of great value and in view of its direct interest as a creditor, and of the importance of the economic recuperation of Europe, it would view with favor the acceptance by American experts of such an invitation. The immediate proposal before the Reparation Commission has been made by the French delegate and the President of the Commission and has the support, it is understood, of all the Allied Governments. The British Government has informed this Government, of its desire that American experts should participate in the inquiry. The German Government has also brought the matter to the attention of this Government, stating that it would be much appreciated if an American expert were to participate in the work of the first committee as above proposed, as it is believed that in this way important progress could be made toward the solution of the problems underlying economic recovery.

THE WHITE HOUSE, December 11, 1923.