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Some major, exciting, even turbulent monetary experiences over the last 12 or 18 months. Examples of the world monetary system as "not as bad as some of its critics want us to believe." Comments on events "to the extent that they provide lessons of a rather general nature for the future conduct of our international monetary affairs." Beginning with parity changes and the German experience. International repercussions of these speculative movement of funds. The unmanageable potential of speculative waves, due mainly to the existence of the Eurodollar market. A detailed discussion of this market. Conclusions to be drawn from the speaker's view that "we shall have to live with the Eurodollar market." Looking at co-ordination and co-operation between monetary authorities. Various proposals to make the system of reshuffling speculative funds back into the country of origin, of recycling, more or less automatic. Interest rates more closely interdependent internationally, also because of the Eurodollar market. The dominant role the U.S. now plays in interest rate developments. The concern that our exchange rate system is too rigid and that greater flexibility should be allowed. Response to this concern by the speaker. The Canada's experience with exchange rate flexibility. The issue of the international capital market, "twin brother" of the Eurodollar market. Advantages this market has brought to the world economy. Lessons to be learned from this market, the "secrets" of its success, its limitations and handicaps. Some remarks on Canadian borrowing in the international bond market. One great problem of the present international capital market: a lack of broadness so far as currencies and placing possibilities are concerned. The crucial problem of the New York capital market. A vote of confidence in our present international monetary system. The hope that the "attained freedom of transactions in goods, services and capital will be increased rather than diminished in the future and international co-operation be improved on all levels."