Although the Bretton Woods agreements had been signed by the Secretary of the Treasury, the final decision rested with Congress. International monetary policy and, even more so, the agreements themselves were too intricate to be legislated on the floor. It would be necessary to hold Congressional hearings. Morgenthau and White knew that Congress would follow the lead of the Administration, or reject the agreements, not on technicalities but on the mood prevailing at the time of voting. Congressmen’s opinions would be influenced by the campaign for and against, and, in particular, the arguments presented by the witnesses at the hearings.
KeywordsUnited States Dollar Congressional Hearing Banker Association American Delegation American Dollar
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