Titlebook: Bretton Woods; Birth of a Monetary Armand Dormael Book 1978 Palgrave Macmillan, a division of Macmillan Publishers Limited 1978 birth.syst

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The Stabilisation Fund,ut and prepare a memorandum and plan for setting up an Inter-Allied Stabilization Fund’. He had in mind ‘a Fund to be used during the war to give monetary aid to actual and potential allies and to hamper the enemy; to provide the basis for post-war international monetary stabilization arrangements;

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,Harry White Catches Up…, first in the Treasury and later in interdepartmental committees. The excitement it had created when it was first circulated had not prevented a detailed scrutiny and critical examination. The Bank of England objected to it. Some economists, particularly Sir Hubert Henderson, strongly opposed it. ‘B

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,…And Takes the Lead,ersion was now available in Washington, and it was agreed that conversations should start immediately. On 10 September 1942, the fust discussion of the Keynes plan, now called ‘Proposals for an International Clearing Union’, took place at the State Department, in Mr Berle’s office. Phillips and Opie

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The Public Debate,paring plans for a postwar monetary order. He wanted ‘an orderly and agreed method of determining the value of national currency units, to eliminate unilateral action and the danger which it involves that each nation will seek to restore its competitive position by exchange depreciation’.

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The Washington Conversations,he group was to meet the Americans for the ‘early conversations’ called for almost two years before under Article VII. Also in the delegation were Lord Keynes; Sir David Waley and Mr F. G. Lee, of the Treasury; Professor L. (later Lord) Robbins, of the Offices of the War Cabinet; Mr L. P. Thompson-M

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,An ‘Agreement’ on Principles,ey agreed on a number of questions, many areas of disagreement remained. Keynes had refused to sign the draft purporting to be a record of their conversations, and White had not initialled the revised version that was subsequently distributed.