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June 10, M S
SUBJECT: Conversation, Ambt»»»d»g Alphaad
Xtm sure you will be interested la varioas c»m m «^f made to
me within the past several days on his ear* tn ttiatifi by the Ambassador
of France, w h o has jm t retarded from a vtatt to A u it.
1, Alphaad says the "poox relations between F n a c t aad America
are a figment of the journalists is both V sA b g tn i rad P a ris .H He
say* that among the people, outside G s w a a o ^ h t finds ao antiAm ericas sentiment in France aad little other thasi pro-France
sentiment among Americans. **AII el & lti " he says. *1» salon talk
among a limited number of people in o r on the fringes of m i Governments.
2. Alphand says, "Whatever is n i d la P a ris. F raace wiH always
be with you w h o a we are needed. The average Frenchman knows
this, just as the average American knows tt» Y ear President is
being misrepresented by Ms p ress, so Is cay President •* except
that my President has more trouble with cartoonists la. both countries
than year President has In either eoaatry. Yha jORsraallsts want to
keep alive the fight that was started before year Pros (dost became
President - - and President DeGau&e kaows that President Johnson
has discouraged the people in year Government from keeping that fight
alive. "

Alp&and says, "M r. Martin made a speech H at has been badly
reported in this country. If yea will read H carefelty. ha Is only
saying that the W estern countries should look a t the international
monetary situation aad its problems aad da some things about that
which have not been done all through these post-w ar y ears. What
Mr. Martin says — if yea forget his rem arks about 1929 — is only
the same thing that General DeCaulle and M r. S«dK have been saying
too. Alien General DeGsulle talks about gold standards* he doesn’t
have a Connell of Economic Advisors gniding him oa what he says «
ho just has Mr. &euff. The General does not know much aboat gold
ior international monetary m atters. What he has asked lo r. I believe,
is not a return to the Cold Standard as much as he has asked the allies

toloo k fo r » better standard than whatwo bare now, 2 think safcay
people ia your Government ( m 1 the same v t f . although they would
not follow the sam e way that General DoGaaHo suggests. President
Johnson has a line opportunity to take leadership la this field f ttt
has been neglected by too many people in nsy C»| tttl and your Capital, too!.
Commoat; I am sot sufficiently informed to make JdlgncBts about
fills, hut soma of the Ambassador’s observations, made cm tad at his
own initiative, seera to bo is the nature of a s o v a itirf. Perhaps
ethers could explore this more usefully tad more Intelligently than 1.

H orace Basby

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Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102