INTERNATIONAL: Fallacy or Victory?

For three years European economists have remained quietly sure that sooner or later President Roosevelt would eat some of the words with which in 1933 he wrecked the World Economic Conference, cabling to London: "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 a few large countries only." Last week U. S. Secretary of the Treasury Henry Morgenthau Jr., British Chancellor of the Exchequer Neville Chamberlain and French Finance Minister Vincent Auriol got together...

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