A recent statement of the Federal Reserve Board to the effect that in the reconstruction of Europeand particularly in the case of Germanythe dollar should be established as the international currency standard, caused trepidation abroad. Financial London, after a touch of goose flesh, has regained its habitual British sangfroid. Financial writers point out London's superior experience in foreign trade and its physical nearness to the world's ports compared with New York's. It has no intention of seeing the dollar usurp further the central and basic position in international trade occupied so long by...
To continue reading:
or
Log-In
