439 Addison to Commonwealth Government

Cablegram 513 LONDON, 7 December 1945, 8.45 p.m.

IMMEDIATE SECRET

Your telegram 438. [1]

In accordance with the procedure outlined in my telegram D.2180 [2] the bill to give effect to the Bretton Woods agreements has been introduced in the House of Commons today with the intention that it should be passed by both Houses before Parliament rises on 20th December and so enable us to sign the agreements before the 31st December.

2. The United States Government are advised that any proposal for the closing date for original membership to be extended beyond 31st December would involve an alteration in terms of the agreements which would necessitate re-submission of the agreements to congress. They attach great importance therefore to closing date of 31st December being adhered to and to sufficient number of acceptances being received by that date to make up the 65 per cent necessary to bring the agreements into effect. We agree for our part as to the importance of avoiding delay.

3. We greatly sympathise with the difficulty in which the Commonwealth Government are placed owing to their Parliament having risen. Apart from the possibility of a special session we can only suggest that it might be explored whether any necessary steps to implement agreements called as an interim measure be taken by regulation under the Commonwealth Government's existing powers with a view to replacement later by definitive legislation.

This would enable instrument to be deposited which would satisfy the requirements of Section 2(A) of article XX of the fund agreement and of corresponding Section of article XI of the bank agreement. We think it not unlikely that this course will be adopted by certain other Governments in the same position.

1 Document 428.

2 Dispatched 4 December. On file AA : A1066, ER45/1/5.

[AA : A1067, ER46/12/2, i]