Your D.467. 
1. We warmly welcome proposal to approach United States Government with view to obtaining broad U.S.-U.K. agreement on orderly agenda for the discussion of Article VII.
2. We have always regarded formulation of considered programme for Article VII discussions as a necessity.
3. We agree that the subjects listed in your proposed approach to the United States Government should be included in the agenda for the discussions. But we feel also that the means of working towards the general objectives of maintenance of production and full employment to which you refer in paragraph 4 of your D.467 should be placed in the forefront of discussions. We believe that discussions of means to achieve these objectives should seek agreement about domestic policy in addition to agreement on the purposes and mode of operation of international machinery. In our view, the discussions that have already taken place on various aspects of international policy emphasise that the achievement of the objectives for which international machinery is designed will depend very greatly on the extent to which domestic policy is directed towards similar objectives. Prior agreement to maintain a high level of employment will, we feel, hasten the agreement on international arrangements.
4. We appreciate points made in paragraph 6 of your telegram  and place special emphasis on the view that care must be taken to leave room for the continuation of the bilateral trade discussions in Washington should this prove desirable.
5. We would be glad to be kept in closest possible touch with all developments.