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London Economic Conference
Geological Museum building, London The London Monetary and Economic Conference of 1933, also known as the London Economic Conference, was a meeting of representatives of 66 nations from June 12 to July 27, 1933, at the Geological Museum in London. Its purpose was to win agreement on measures to fight the Great Depression, revive international trade, and stabilize currency exchange rates. It collapsed after it was "torpedoed" by US President Franklin D. Roosevelt in early July when he denounced currency stabilization. Background When the Great Depression devastated the world economy from 1929 to 1932, it was generally assumed that the United States would serve as a hegemon, providing leadership for a program to bring about recovery. US President Herbert Hoover in 1931 called for a conference to decide how to reduce tariffs and also revive prices by reversing the deflation associated with the Depression. The agenda for the Conference was drafted by representatives of six major ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
3rd G7 Summit
The 3rd G7 Summit was held in London, United Kingdom between 7–8 May 1977. The venue for the summit meetings was the British Prime Minister's official residence at No. 10 Downing Street in London.Japan, Ministry of Foreign Affairs (Japan), Ministry of Foreign Affairs (Ministry of Foreign Affairs (Japan), MOFA) Summit Meetings in the Past./ref> The G7, Group of Seven (G7) was an unofficial forum which brought together the heads of the richest industrialized countries: France, West Germany, Italy, Japan, the United Kingdom, the United States, Canada (since 1976),Saunders, Doug "Weight of the world too heavy for G8 shoulders," ''Globe and Mail'' (Toronto). July 5, 2008 -- n.b., the G7 becomes the G8, Group of Eight (G8#History, G7) with the inclusion of Russia starting in 1997. and the President of the European Commission (starting officially in 1981).Reuters "Factbox: The Group of Eight: what is it?" July 3, 2008. The summits were not meant to be linked formally with wider interna ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lausanne Conference Of 1932
The Lausanne Conference of 1932, held from 16 June to 9 July 1932 in Lausanne, Switzerland, was a meeting of representatives from the United Kingdom, France, Italy, Belgium, Japan and Germany that resulted in an agreement to lower Germany's World War I reparations obligations as imposed by the Treaty of Versailles and the 1929 Young Plan. The reduction of approximately 90 per cent was made as a result of the difficult economic circumstances during the Great Depression. The Lausanne Treaty never came into effect because it was dependent on an agreement with the United States on the repayment of the loans it had made to the Allied powers during World War I, and that agreement was never reached. The Lausanne Conference marked the de facto end of Germany's reparations payments until after World War II. Background In mid-1931, eighteen months after the Wall Street crash of 1929, Germany experienced a severe banking crisis that saw the collapse of the Danat-Bank, the country's seco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of France
The Bank of France ( ) is the national central bank for France within the Eurosystem. It was the French central bank between 1800 and 1998, issuing the French franc. It does not translate its name to English, and thus calls itself ''Banque de France'' in all English communications. The Bank of France was originally established by Napoleon Bonaparte as a private-sector corporation with unique public status. It was granted note-issuance monopoly in Paris in 1803 and in the entire country in 1848. Long independent from direct political interference, it was brought under government control in 1936 and eventually nationalized in 1945. While other banks of issue were established in the French colonial empire, the Bank of France remained Metropolitan France's sole monetary authority until France's adoption of the euro as its currency. The Bank of France long held high prestige as an anchor of financial stability, especially before the monetary turmoil that followed World War I. In 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clement Moret
Clement or Clément may refer to: People * Clement (name), a given name and surname * Saint Clement (other)#People Places * Clément, French Guiana, a town * Clement, Missouri, U.S. * Clement Township, Michigan, U.S. * Clement's Place, jazz club in Newark, New Jersey Other uses * Adolphe Clément-Bayard French industrialist (1855–1928), founder of a number of companies which incorporate the name "Clément", including: ** Clément Cycles, French bicycle and motorised cycle manufacturer ** Clément Motor Company, British automobile manufacturer and importer ** Clément Tyres, Franco-Italian cycle tyre manufacturer, licensed in America since 2010 * First Epistle of Clement, of the New Testament apocrypha * ''Clément'' (film), a 2001 French drama See also * * * * Clemens, a name * Clemente, a name * Clements (other) * Clementine (other) * Klement Klement is a given name and surname. People with that name include: Given name * Klement Gottwald ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the Kingdom of England, English Government's banker and debt manager, and still one of the bankers for the government of the United Kingdom, it is the world's second oldest central bank. The bank was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. In 1998 it became an independent public organisation, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. In the 21st century the bank took on increased responsibility for maintaining and monitoring financial stability in the UK, and it increasingly functions as a statutory Financial regulation, regulator. The bank's headquarters have been in London's main financial di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Montagu Norman, 1st Baron Norman
Montagu Collet Norman, 1st Baron Norman DSO PC (6 September 1871 – 4 February 1950) was an English banker, best known for his role as the Governor of the Bank of England from 1920 to 1944. Norman led the bank during the toughest period in modern British economic history and was noted for his somewhat raffish character and arty appearance. A very influential figure, Norman, according to ''The Wall Street Journal'', was referred to as "the currency dictator of Europe", a fact which he himself admitted to, before the Court of the Bank on 21 March 1930. The economist and Court member John Maynard Keynes said of him: "Montagu Norman, always absolutely charming, always absolutely wrong". In recent years, Norman's reputation has suffered after the confirmation that he knowingly aided in the transfer of Czech gold to the Nazi regime in March 1939, and again supported transfers of Czech gold to Hitler's Germany two months after WWII broke out. On this second occasion, the UK governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Warburg
James Paul Warburg (August 18, 1896 – June 3, 1969) was a German-born American banker, businessman, and writer. He was well known for being the financial adviser to Franklin D. Roosevelt. His father was banker Paul Warburg, member of the Warburg family and "father" of the Federal Reserve System. After World War II, Warburg helped organize the Society for the Prevention of World War III in support of the Morgenthau Plan. Biography Born in Hamburg, Germany, he was educated at Middlesex School and Harvard University. He served in the Navy Flying Corps during World War I before entering a career in business. He was at the First National Bank of Boston between 1919 and 1921. Between 1921 and 1929 he was Vice President at the International Acceptance Bank. He was president at the International Manhattan Company from 1929 to 1931, then president of the International Acceptance Bank from 1931 to 1932. He was Vice Chairman of the Board at Bank of the Manhattan Company between ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oliver Mitchell Wentworth Sprague
Oliver Mitchell Wentworth Sprague ( – ) was an American economist and president of the American Economic Association in 1937. His research focused on fiscal policy and central banking. Early life and education Sprague was born to William Wallace (1842–1912), a businessman, and Miriam Sprague (née Wentworth) on April 22, 1873, in Somerville, Massachusetts. He attended St. Johnsbury Academy and graduated summa cum laude from Harvard University in 1894. He went on to further study at Harvard, receiving an AM in 1896 and PhD in political science in 1897. Career After a year of study in England, Sprague was made Austin Teaching Fellow in political economy, a one-year fixed-term position, at Harvard College in fall 1899. He became instructor in political economy in 1900 and was promoted to assistant professor of economics in 1904. The Imperial University of Tokyo appointed him as a full professor of economics in 1905, where he stayed until 1908 when he returned to Harvard as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currency Manipulation
Currency intervention, also known as foreign exchange market intervention or currency manipulation, is a monetary policy operation. It occurs when a government or central bank buys or sells foreign currency in exchange for its own domestic currency, generally with the intention of influencing the exchange rate and trade policy. Policymakers may intervene in foreign exchange markets in order to advance a variety of economic objectives: controlling inflation, maintaining competitiveness, or maintaining financial stability. The precise objectives are likely to depend on the stage of a country's development, the degree of financial market development and international integration, and the country's overall vulnerability to shocks, among other factors. The most complete type of currency intervention is the imposition of a fixed exchange rate with respect to some other currency or to a weighted average of some other currencies. Purposes There are many reasons a country's monetary a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cordell Hull
Cordell Hull (October 2, 1871July 23, 1955) was an American politician from Tennessee and the longest-serving U.S. Secretary of State, holding the position for 11 years (1933–1944) in the administration of President Franklin Delano Roosevelt during most of World War II. Before that appointment, Hull represented Tennessee for two years in the United States Senate and 22 years in the House of Representatives. Hull received the Nobel Peace Prize in 1945 for his role in establishing the United Nations, and was referred to by President Roosevelt as the "Father of the United Nations". Early life and education Cordell Hull was born in a log cabin in Olympus, Tennessee, which is now part of Pickett County, Tennessee, but was then part of Overton County. He was the third of the five sons of William Paschal Hull (1840–1923) and Mary Elizabeth Hull (née Riley) (1841–1903). His brothers were named Orestes (1868), Sanadius (1870), Wyoming (1875), and Roy (1881). According t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nazi Party
The Nazi Party, officially the National Socialist German Workers' Party ( or NSDAP), was a far-right politics, far-right political party in Germany active between 1920 and 1945 that created and supported the ideology of Nazism. Its precursor, the German Workers' Party (; DAP), existed from 1919 to 1920. The Nazi Party emerged from the Extremism, extremist German nationalism, German nationalist ("Völkisch nationalism, ''Völkisch'' nationalist"), racism, racist, and populism, populist paramilitary culture, which fought against communism, communist uprisings in post–World War I Germany. The party was created to draw workers away from communism and into nationalism. Initially, Nazi political strategy focused on anti-big business, anti-bourgeoisie, and anti-capitalism, disingenuously using socialist rhetoric to gain the support of the lower middle class; it was later downplayed to gain the support of business leaders. By the 1930s, the party's main focus shifted to Antisemit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Banking Crisis Of 1931
The European banking crisis of 1931 was a major episode of financial instability that peaked with the collapse of several major banks in Austria and Germany, including Creditanstalt on , Landesbank der Rheinprovinz on , and Danat-Bank on . It triggered the exit of Germany from the gold standard on , followed by the UK on , and extensive losses in the U.S. financial system that contributed to the Great Depression. The causes of the crisis included a complex mix of financial, fiscal, macroeconomic, political and international imbalances that have nurtured a lively debate of historiography. Background Germany's banking sector shrank dramatically from 1913 to 1924 but expanded rapidly again in the later 1920s, with fivefold growth of aggregate bank assets between 1924 and 1930. The banks were generally undercapitalized and overstretched following rapid balance sheet expansion in the late 1920s, with a preponderance of short-term debt, much of it foreign. Germany was the world's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
