Following from Melville for Minister of External Affairs and
Treasurer.

Monetary Conference
1. In order to meet the position of myself and other
representatives, the following procedure has been decided upon:

(a) The Commissions will complete the fund, bank and other
documents to-day, Wednesday.

(b) To-morrow afternoon full conference will hear reports from the
Commissions and will resolve, for example, 'that the conference
accepts the report of the Commission I, adopts the articles of
agreement of the international monetary fund and directs that they
be incorporated in the final act of conference'. Note-Any
reservations intended on the substance of the draft agreements for
signature of the final act (see below) must be made at this stage.

(c) The final act will be signed on Friday or Saturday.

2. You will note that the resolution in paragraph 1 (b) is
completely neutral. It does not recommend or even submit the draft
agreements to the governments.

3. The final act will be a mere record of proceedings signed by
the leaders of the respective representatives and signature will
be a simple certification of accuracy of the record.

4. This procedure would be even more neutral than that at Hot
Springs which we are informed involved signature.

5. Technically there would be no commitment even at official level
but in view of your telegram 2, paragraph 4 [1], and subsequent
advices [2], please instruct me by Thursday afternoon, Washington
time, as I must then declare my attitude.