On 2 February 1943 the Chancellor of the Exchequer, Sir Kingsley Wood, made a statement in the House of Commons indicating that the government was preparing 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’.1
KeywordsFederal Reserve Public Debate Vote Power Foreign Exchange Rate Unilateral Action
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