Copy of a memorandum from WSC to Sir Warren Fisher [Permanent Secretary] "and others concerned" on: the possibility of shortening the occupation of Germany if Germany makes improvements in payment of reparations; the economic impact of the early return of troops; disarmament and the need for France to retain a strong army to uphold the Locarno treaty; repayment of United States debt and the need to pass on costs to Germany; the need for the Treasury to adopt am attitude of "extreme reserve and vigilant criticism; and the results of the United States elections.Carbon typescript. Unsigned.