Papers and Documents relating to the Foreign Relations of Hungary, Volume 1, 1919–1920 (Budapest, 1939)

Documents

1920 439 repeat what I had told him to his economic expert, Mr. Philipotts. Philpots admitted that British financial circles were somewhat slow and they were exposed therefore to the danger that someone else would get ahead of them. But their slowness did not mean that they are not interested in, and that they would not like to extend their activities to, Hungary. The Italian Chargé d'affaires, Mr. Biancheri, unlike Mr. Lindley, was quite willing to explain in detail his views concerning Hungary's French orientation. He seemed to be quite well informed about the details. According to him, the French could not and perhaps do not intend to give any political support to Hungary. A great and strong Hungary is in the interest of Italy but it never could be in the interest of France. Even admitting that French policy has somewhat turned away from the Czechs, he does not believe that the Czechs would be definitely omitted from French political calculations. The French would need Hungary only to hold Germany in check. No state is capable of being on friendly terms with both France and Germany at the same time. If Hungary counts on French support she will have Germany against her. He questioned whether in this situation the passive side of the ledger would not exceed the active side. Moreover, to hand over our railroads to the French would substantially impair Hungary's economic sovereignty. He is at a loss to understand why, at a time when other states are seeking to nationalize their private railroads, Hungary is willing to hand over her state railroads to a foreign private company. He expressed the belief that Italian public opinion, although still very friendly to Hungary, has become substantially cooler. He believes that the chief reasons therefor are the Franco-Hungarian negotiations. I repeated to Biancheri what I had told to Lindley, namely that we were compelled to accept the assistance offered by France because no other assistance was offered to us. I pointed out, however, that it is neither our interest nor our intention to give France a monopoly in Hungary. From Italy we received nothing but platonic expressions of sympathy. I expressed the belief that a way could be found for Italo-Hungarian cooperation both in the political and economic fields. No concrete idea which could be of practical use in our foreign policy has emerged from either of the two conversations.