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Jffice Correspondence
Chairman Eccles
Mr> Knapp

D a te

January 22, 1947 _

Speech in New York on Monday,

January 20.

The attached notes referring to my talk at the Municipal
Forum luncheon in New York appeared on the financial page of the
New York Times yesterday. The note is o£ interest mainly for its
statement that I predicted "that the United States is not likely
to delegate to any ne?; President of the Bank the voting influence
which this nation can exert on the Bank's lending and borrowing
This is an obvious enough point, but I am a little sorry
that my remark on this subject received publicity, especially since
in general I steered clear of any discussion of the controversial
subject of the Bank's Presidency, However, in describing the administration of the Bank, I did point out that the Articles of Agreement provided for a large measure of control carer the Bank's policies
by the United States, acting through the National Advisory Council and
the U.S. Executive Director, and that the retention of this control
was necessary to protect our stake in the Bank.


This article is protected by copyright and has been removed.
The citation for the original is:
New York Times, “Topics of the Day in Wall Street: International Bank,” January 21, 1947.