Book contents
- Monetary War and Peace
- Studies in Macroeconomic History
- Monetary War and Peace
- Copyright page
- Contents
- Figures
- Tables
- Acknowledgments
- Abbreviations
- Introduction
- 1 A Classical Prelude, 1880–1914
- 2 Britain’s Biggest Blunder, 1914–1931
- 3 Hostilities Commence, 1931–1933
- 4 Washington Declares War, 1933–1935
- 5 Negotiating Peace, 1935–1936
- 6 A New Order, 1936–1939
- 7 Gold and Dollars, 1936–1937
- 8 Keeping France Afloat, 1937–1938
- 9 Battle for Sterling, 1938–1939
- 10 From Bretton Woods to Today
- Conclusion
- Book part
- References
- Index
- Series page
6 - A New Order, 1936–1939
Published online by Cambridge University Press: 24 February 2021
- Monetary War and Peace
- Studies in Macroeconomic History
- Monetary War and Peace
- Copyright page
- Contents
- Figures
- Tables
- Acknowledgments
- Abbreviations
- Introduction
- 1 A Classical Prelude, 1880–1914
- 2 Britain’s Biggest Blunder, 1914–1931
- 3 Hostilities Commence, 1931–1933
- 4 Washington Declares War, 1933–1935
- 5 Negotiating Peace, 1935–1936
- 6 A New Order, 1936–1939
- 7 Gold and Dollars, 1936–1937
- 8 Keeping France Afloat, 1937–1938
- 9 Battle for Sterling, 1938–1939
- 10 From Bretton Woods to Today
- Conclusion
- Book part
- References
- Index
- Series page
Summary
This chapter focuses on the reciprocal gold facilities created in the weeks after the Tripartite Agreement to enable exchange intervention, viewed as essential for the Agreement to have any chance of success. Each country agreed to convert its currency into gold for other members at a price set each day. The system squared the circle of how to enable countries to intervene in currencies that were not universally convertible into gold and played a crucial role in keeping members on the same page during a time of immense political and economic strain. It established a technical foundation for broader collaboration and was integral to the Tripartite Agreement's success in preventing policymakers from relapsing into the antagonisms of earlier years.
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- Monetary War and PeaceLondon, Washington, Paris, and the Tripartite Agreement of 1936, pp. 130 - 155Publisher: Cambridge University PressPrint publication year: 2021