ECONOMICS: Breath of Life

A 19-car special train last week backed into geranium-decked Union Station at Savannah, Ga. Out piled delegates from 34 member nations of the Bretton Woods Fund and Bank. The town, still smarting from Lady Astor's recent wisecrack (see PEOPLE) had washed its face for the occasion, turned out en masse to cheer the delegates.

In the General Oglethorpe Hotel, amid the pines and palmettos on nearby Wilmington Island, the delegates turned to the immediate business of choosing a permanent site for the Fund and Bank, adopting bylaws, electing directors, deciding how new members may join.

Chief among the prospective candidates was...

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