763.72/12663
Memorandum by the Assistant Secretary of State (Phillips)
The Italian Ambassador mentioned today a conversation he had recently with the President in which the President referred to the [Page 315] Italian–Jugo-Slav situation, by giving the impression that in his opinion the pact of London which gave to Italy such important territory could now be disregarded, inasmuch as the pact was made to safeguard Italy from Austria-Hungary and now that Austria-Hungary no longer existed the pact itself might be supposed to have disappeared. The Ambassador seemed to think that Italy was as much endangered by a pan-Serbian organization on the lines of the Corfu declaration as a state of Austrio-Hungarian proportions. He felt that it would be terribly dangerous for the President to enter the Peace Conference with the idea that the pact of London need not be considered inasmuch as the whole of Italy was enthusiastic for it. The Ambassador scented danger so had not reported the President’s conversation to his Government.