MONEY: The Third Way

A Manhattan hostess learned last week that there is a "key countries approach" to postwar monetary stabilization. Said she: "I am furious. It took me all spring to pair off Lord Keynes and his bancor, and Harry White and his unitas. Now this has to bob up."

New generally to the U.S. public, the "key countries approach" has long been promoted by U.S. bankers. For several months U.S. bankers have been discussing it as an alternative to Keynes and White, whose plans, they feel, would put politics (central banks and fiscal agencies of...

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