James, Dr. F. Cyril
The speeches are free of charge but please note that the Empire Club of Canada retains copyright. Neither the speeches themselves nor any part of their content may be used for any purpose other than personal interest or research without the explicit permission of the Empire Club of Canada.
A review of wartime policies adopted by the government of Canada which avoided the temptations of monetary inflation. A cursory survey of monetary conditions aorund the world indicating the extent of our failure to attain in the great majority of countries the high hopes of Bretton Woods that were embodied in the resultant International Monetary Fund. A review of the ideals that underlay the discussions at Bretton Woods, in which the Canadian representatives played so distinguished a part. The agreements leading to the creation of the IMF and its sister institution, the World Bank. The gold standard and what happened when it broke down. Reasons for the necessary restoration of an international monetary system. The result of such restoration. Immediate affects in Canada. The devaluing of the rouble, and the end of rationing in Russia. How France tackled the same problem of domestic inflation. Difficulties caused by the policies of Canada and France. The breakdown of the Bretton Woods Agreement during the past 12 months and to what that was due. Tackling the problem of domestic inflation; solving the problems that arise from the disequilibrium in the balance of payments, with statistics and figures. An examination of Mr. Henry Hazlitt's suggestions for an adjustment of foreign exchange rates in his essay "Will Dollars Save the World." The need to make available at once such loans and gifts as will enable the people of Europe to get themselves on their feet and take up their full responsibilities for the functioning of the world economy. Deciding now, in 1948, how much we are willing to pay for the privilege of giving our children a better chance to live their lives in peace; and, if money makes the mare to go, deciding today in which direction we want her to pull our destiny. Augmenting the Marshall Plan, and why. An Appendix, entitled "Brief Notes Regarding the Marshall Plan."