The Greenwood Encyclopedia of International Relations - Vol. 2

By Cathal J. Nolan | Go to book overview
later, a troy ounce. Germany adopted the gold standard in 1871; the United States went onto gold in 1879; Russia and Japan went on the standard in 1897. Economic historians dispute whether the remarkable world economic integration before 1914 resulted from this widespread adherence to a gold standard or from the powerful coordinating role played by Great Britain. In any case, the international gold standard was abandoned at the outbreak of World War I. Britain tried to lead a return to gold in 1925 (Japan went back to gold in 1930), but Winston Churchill’s effort was beyond Britain’s postwar strength and failed by 1931. Franklin Roosevelt took the United States off gold in 1933. A “gold-exchange standard,” by which major currencies were pegged to the U.S. dollar, which was pegged to gold, was established by the United States after 1945, but it was abandoned by all when the United States decoupled its currency from gold in the Nixon shocks of August 1971. See also William Jennings Bryan;guinea.
Suggested Reading:
Barry Eichengreen, ed., The Gold Standard in Theory and History (1985).
Gomulka, Wladyslaw (1905–1982). Polish dictator. A life-long Communist, but distrusted and arrested by Stalin in 1951 on suspicion he was a Titoist, Gomulka yet emerged as leader during the Polish-Soviet crisis of 1956. He was able to keep up a limited autonomy domestically by staying loyal to Moscow in foreign policy. He resigned in face of widespread unrest in 1970.
good faith. A fundamental principle of international law calling for exercise of legal rights in accordance with minimum and accepted reciprocal standards. In short, it assumes that agreements are made with the honest intention of being kept. See also pacta sunt servanda; reciprocity.
Good Neighbor policy. Initiated by Harding and practiced by Hoover after 1930, it was given new rhetorical shape and expanded by Franklin Roosevelt after 1934. It promised, and for a time delivered, an end to the previous era of U.S. military intervention and running of customs receiverships in Central America. That contributed to better U.S. relations with Latin America even as it required the United States to abstain from intervention against local incompetents and dictators, such as Trujillo in the Dominican Republic. The policy reflected U.S. preoccupation with the Great Depression at home, rather than abrogation of its traditional claim as a Great Power to practice abatement in its regional backyard. See also Monroe Doctrine; Platt Amendment.
good offices. The attempt by a third party, such as the Secretary-General or some regional body, to provide neutral grounds and/or personnel to bring antagonists together to begin negotiations to resolve a dispute. It works by offering the chance to save face for one or both parties and by providing assurances of balanced treatment. See also arbitration; conciliation; mediation; specialinterest section.

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