Joint Statement with Senor Torres of Chile.

Our conversations have had as their object a frank and cordial exchange of views between our two countries in regard to our common problems in connection with the forthcoming World Economic Conference at London.

We are happy to announce that our two Governments are in complete agreement regarding essential remedies for the present world crisis, such as the necessity for international action at the London Conference looking to an improvement of the world price level, stabilization of currencies, and removal of obstacles to international trade which have so far retarded a world recovery.

Definitive agreement with reference to any of these subjects had, of course, to be reserved for the London Conference itself, the present conversations having as their purpose merely the exploration of the territory to be covered and a helpful exchange of views in order to assist the Conference in its high objectives. We feel that our conversations have served this purpose.