Whatever may have prompted him to do so, on the morning of Sunday 14 December 1941 Secretary Morgenthau called Harry White and asked him ‘to think about and prepare a memorandum and plan for setting up an Inter-Allied Stabilization Fund’. He had in mind ‘a Fund to be used during the war to give monetary aid to actual and potential allies and to hamper the enemy; to provide the basis for post-war international monetary stabilization arrangements; and to provide a post-war “international currency”’.1
KeywordsForeign Exchange Local Currency International Unit Currency Unit International Currency
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