1. Your 86. The French resolution mentioned in my 114 has now been revised as a joint resolution with the United States and the United Kingdom and we have again been invited to share sponsorship. The resolution is now so comprehensive that to draft acceptable alternative resolution would present great difficulty. The points mentioned in your cable are already covered except discussion by the General Assembly. The desirability of such discussion has been considered in informal conversations and the general feeling here is that alarmist reports of the Assembly debate would be harmful to business psychology in many countries.
2. The resolution in addition to drawing attention to the need for full employment policies and the international effects of the decline in certain countries invites the Secretary-General to appoint a small group of experts to prepare in the light of the world economic situation a report on the national and international measures to maintain full employment. The Economic and Employment Commission requested to examine this report and submit concrete suggestions to the next session of the council on the most effective measures including action through specialised agencies.
3. Since only nine working days remain for the present session of the Council you will appreciate the difficulty of delaying the debate on joint resolution. In all circumstances I think we should accept the invitation for joint sponsorship.