THE KEYNES PLAN PROPOSALS FOR AN INTERNATIONAL CLEARING UNION APRIL 8, 1943
|1.||The mechanism of currency and exchange.|
|2.||The framework of a commercial policy regulating conditions for exchange of goods, tariffs, preferences, subsidies, import regulations and the like.|
|3.||Orderly conduct of production, distribution and price of primary products so as to protect both producers and consumers from the loss and risk for which extravagant fluctuations of market conditions have been responsible in recent times.|
|4.||Investment aid, both medium and long term, for countries whose economic development needs assistance from outside.|
If the principles of these measures and the form of institutions to give effect to them can be settled in advance, in order that they may be in operation when need arises, it is possible that taken together they may help the world to control the ebb and flow of the tides of economic activity which have, in the past, destroyed security of livelihood and endangered international peace.
All these matters will need to be handled in due course. The proposal that follows relates only to the mechanism of currency