Archive Report
Archive Report
Foreign Trade Relation and Domestic Recovery
President roosevelt in his inaugural address asserted that “our international trade relations, though vastly important, are in point of time and necessity secondary to the establishment of a sound national economy.” He declared that he would “spare no effort to restore world trade by international economic readjustment, but the emergency at home cannot wait on that accomplishment.” The first attempt at international economic readjustment—the World Monetary and Economic Conference at London in June and July, 1933—had no substantial results, partly because the President was unwilling to enter an agreement for stabilization of currencies and partly because other nations were not ready to undertake economic collaboration on a broad scale. The domestic recovery program in the United States, moreover, was ...