The Diary of Rexford G. Tugwell: The New Deal, 1932-1935

By Michael Vincent Namorato | Go to book overview

The World Economic Conference

The World Economic Conference in London opened on 12 June and ended--virtually--on 8 July, five days after receiving the "bombshell" message of President Roosevelt.

That message read as follows:

I would regard it as a catastrophe amounting to a world tragedy if the great Conference of Nations, called to bring a more real and permanent financial stability and a greater prosperity to the masses of all Nations, should, in advance of any serious effort to consider these broader problems, allow itself to be diverted by the proposal of a purely artificial and temporary experiment affecting the monetary exchange of a few nations only. Such action, such diversion, shows a singular lack of proportion and a failure to remember the larger purposes for which the Economic Conference originally was called together.

I do not relish the thought that insistence on such action should be made an excuse for the continuance of the basic economic errors that underlie so much of the present world-wide depression.

The world will not long be lulled by the specious fallacy of achieving a temporary and probably an artificial stability in foreign exchange on the part of the few large countries only.

The sound internal economic system of a nation is a greater factor in its well-being than the price of its currency in changing terms of the currencies of other Nations.

-373-

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The Diary of Rexford G. Tugwell: The New Deal, 1932-1935
Table of contents

Table of contents

  • Recent Titles in Contributions in Economics and Economic History ii
  • Title Page iii
  • Copyright Acknowledgments v
  • Contents vii
  • Foreword ix
  • Preface xi
  • Rexford G. Tugwell: A Brief Sketch 1
  • Rexford G. Tugwell Diary: An Explanation 13
  • 1932 21
  • 1933 47
  • 1934 93
  • 1935 181
  • REVISED DIARY 285
  • Introduction 287
  • The Hundred Days 332
  • Addendum to the Diary for the Hundred Days 357
  • Monetary Preliminaries 367
  • The World Economic Conference 373
  • Intimations of the Civilian Conservation Corps 387
  • June 1933 to March 1934 391
  • Glossary 489
  • Bibliography 513
  • Index 517
  • About the Editor 527
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