The Stabilisation Fund

  • Armand Van Dormael


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


Foreign Exchange Local Currency International Unit Currency Unit International Currency 
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Copyright information

© Armand Van Dormael 1978

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  • Armand Van Dormael

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