BRETTON WOODS AGREEMENT

Press, Volume LXXXII, Issue 25021, 1 November 1946, Page 11

BRETTON WOODS AGREEMENT

OBJECTIONS ANSWERED WDRESS by reserve bank OFFICER WELLINGTON, October 31 th ? Bretton Woods I WEn£?J;-° ad centred round a few |Wof^§;“ ld Deputy-Gover-'Ki,? Reserve Bank (Mr E. C. Kgl at a meeting held under the committee representstive ’ •’Wum fc Am ? rican Co-operation BtaS A>J he i J ns ,J itu te of InterUKm m% ! » the . Societ y for Closer ■KbaS Russia, and ‘ he United TfcfsuS?, Clat ion of New Zealand. rlntem a sn„ , ld ., many fea red that Itew , • Monetary Fund repi»i n a . °5 na °f individuals who in th?X e n pow er to hold the Es ter „„ h °U°w of their hands. • belief that ' Fot the f,, of .4 th€ -t£ und were memE Gowr^ d -. was not the aK aS f™"j en ‘ s were the memA*r to government had jlEted uhl? s ‘ hc governor it had Gl®r, wtthout notice 3 ** thats°* the slightest ■n enSL fm,d eould carry out , Gtf^?^ ry ..t t > the majority "*■ Kse!l ’ OnS WIUCh Eet '* up ’ said *te C ?2 d related to the An2 Verei £ n * y member ®Mraw had a right M down ♦ ft lt *i? rlshed The matter *»ereS wJS® mode rate pooling (fit of ? tho gJlts f °r the mutual not a e COUnt ries concerned, reignty. Kur render o f basic was the belief J he ' effec * of release standard, but this was '•''rusSn’ ’ b ’ections mentioned ta’ 6B thonahY 35 t * at s °me small “f", 1 ? ‘.ruefully of the inMnl j n voting powers on Mr Vi n t° the largest J° smallp^ U '' !d h e believed 11 mSbeX hi^ ernbers the voice i of mPTni! P the m in the j than thf r - natlons w »s more ' 11 tne size of their voting. !