history XXIII

NOTHING NEW UNDER THE SUN (ALMOST)

23rd July,1933 : The World Monetary and Economic Conference ended today in failure. Delegates from 66 nations gathered in London to discuss trade barriers, most-favoured nation status and the gold standard. No consensus was reached on any issue, including a question of whether to reconvene in Geneva before the end of the year. In his closing speech, the British Prime Minister, Mr Ramsay MacDonald, could say only that the situation delegates faced – unemployment, bankruptcies, unbalanced budgets, undeveloped resources – “was a challenge to the wisdom of man”.

 

About Avadoro Worden

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