Woodrow Wilson: “I welcome the opportunity for a frank and full interchange of views.”

I herewith call your attention to an agreement with Belgium made by the British and French Premiers and myself.

I regret that I am not able to see in the condition of the world at large or in the needs of the United States any such change as would justify the restriction upon that minimum which is proposed by the House Joint Resolution.

For many months there has been a demand that war agencies should be abolished and that there should be less Government interference with business.

Each of the undersigned will recommend to the appropriate governmental agency of his Government that upon the delivery to the Reparation Commission of such bonds his Government accept an amount thereof corresponding to the sums which…