White House Press Release, Correspondence Between President Harry S. Truman and Randolph Paul

261 IMMEDIATE RELEASE JUNE 12, 1946 The President has addressed the following letter to the Honorable Randolph Paul, accepting his resignation as Special Assistant to conduct negotiations with the Swiss Government on the subject of German external assets in Switzerland: "Dear Randolph: I have received your letter of May twenty-eighth informing me of the successful completion of the Allied negotiations with the Swiss Government on the subject of German assets in Switzerland. Knowing, as I do, the personal sacrifice made by you in taking on this responsibility and of your strong desire to return to the organization of your new firm, I feel that I cannot now ask you to assume additional responsibilities and, in accordance with your request, I reluctantly accept your resignation. I shall look forward with interest to receiving the complete report which you are sending me concerning the negotiations. However, I do not need the report to know that the task entrusted to you was a difficult one and that you have handled it in the same meritorious fashion in which you have consistently discharged other responsibilities, both public and private. Your accomplishments in the Swiss negotia- tions are important steps in the rehabilitation of countries devastated by the war and the elimination of future threats to world security. Please accept my personal thanks and I shall hope that you may before long be again in a position to use your talents in the service of the Government. Very sincerely yours, HARRY S. TRUMAN. Following is the text of Mr. Paul's letter to the President: "Dear Mr. President: On February 28, 1946, you honored me with an appoint- ment as your Special Assistant to conduct negotiations with the Swiss Government on the subject of German external assets in Switzerland. Since that time I have been constantly engaged in these discussions in association with Delegations of the United Kingdom and France. Letters dated May 25, 1946, con- stituting an Accord between the Delegations of the United States, United Kingdom and France, on the one hand, and the Swiss Delegation on the other, have now been exchanged. The Accord is subject to approval by the Swiss Parliament. In brief, the Accord provides a satisfactory pro- cedure for cooperation between the Swiss and Allied Governments in liquidating German assets in Switzerland; an equel division of the proceeds of liquidation between the Allied and Swiss Governments; and payment by Switzerland of 250 million Swiss francs to the Allied Nations sig ptory to the Paris Reparation Agreement in settlement of their governmental and central bank claims for restitution from Switzerland of monetary gold. I shall send a complete report of the negotiations to you in the near future.