American Power and Policy (Archival Insights Into the by R. Leeson

By R. Leeson

This quantity examines the original insights supplied through archival facts in American economics.

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22 The differences of opinions between the two group of experts could hardly be greater: the British were carrying on their struggle against Germany almost alone, supported by the financial and material aid of the Commonwealth; their industrial system, widely devoted to warfare production, would have to meet a drastic conversion to peace production; their massive purchases of foreign raw materials had piled up considerable ‘sterling balances’ that would place a sudden and huge pressure on the external value of the pound after the war.

Goldenweiser and Walter Gardner, who had previously worked out an alternative plan for the IMF,58 he tried to introduce considerable changes in the White scheme, as we can see from this personal letter to White: Since we had our conference with you, the staff at the Federal Reserve has again gone over the whole matter and Goldenweiser is sending you a summary statement of the main points. I’m sending you this personal note since I can’t come on Monday so you will know my own point of view. It seems to me that our suggestions can quite easily be incorporated into your plan.

In the technical committee Hansen was one of the representatives from the Federal Reserve Board. Together with colleagues, Emanuel A. Goldenweiser and Walter Gardner, who had previously worked out an alternative plan for the IMF,58 he tried to introduce considerable changes in the White scheme, as we can see from this personal letter to White: Since we had our conference with you, the staff at the Federal Reserve has again gone over the whole matter and Goldenweiser is sending you a summary statement of the main points.

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