UNITED STATES DELEGATION PAPERS



865



            b) Salaries cover 25% of essential maintenance expenses.
  Italy :t a) Pre-war: 142 dollars per head of population.
               1946: 65% of pre-war figure, i.e. 92 dollars;
            b) Salaries cover 40-70% of maintenance expenses.
(3) Currency
  Greece: Total extinction of the national currency through infla-
                tion (circulation 360,000 times greater).
            Introduction of a new drachma on a basis of 1 dollar=
                150 drachmae,
            Present prices of dollar:
                official rate= 5,000 drachmae
                unofficial rate= 6,300 "
  Italy:   Maintenance of pre-war currency, with circulation barely
                twenty-times greater than pre-war;
            prices of dollar:-
                official rate 225 lire (11 times greater than pre-war)
                unofficial rate 480 lire (24 times greater than pre-
                    war).


740.00119 Council/9-1646: Telegram
Mr. Jefferson Caffery, Member of the United States Delegation, to the
                     Acting Secretary of State

SECRET                            PARIS, September 16, 1946-2 p. m.
                               [Received September 16-11: 45 a. m.]
  4642. Delsec 951. At meeting Bulgarian Commission Septem-
ber 11"4 Ambassador Caffery      outlined position US    delegation
(Reurtel 231, September 13 65) as favoring present text Article 1, i.e.
no change in 1941 frontiers. After rejecting Bulgarian claim which is
for whole territory of western Thrace, he spoke of US understanding
of Greece's anxiety for security pending the effective operation of
measures for general security. He said the US Delegation "has con-
sidered with full sympathy the Greek Delegation's presentation of
its case" but made this important reservation, "we want to be sure,
however, that the proposal now before us would effectively serve this
purpose. These strategic considerations may require further study
and consultation with the military advisers of our respective

  'tFor the income of the year 1945, see Bruno Rossi Ragazzi: II reddito
dell'
Italia negli anni 1944 e 1945; also the economic "Index" of Professor
Livio
Livi (May 1946). During 1946 production yields have increased. [Footnote
in
the source text.]
' For the United States Delegation Journal account of the 9th Meeting of
the
Political and Territorial Commission for Bulgaria, see vol. iII, p. 422.
"5 Telegram 731, September 13, from Sofia, repeated to Paris for Delsec
as 231,
p. 859.