World Economic Conference
In June 1933 representatives of the leading industrial nations met in London to discuss a collective international response to the Great Depression. The European nations, especially France, proposed immediate agreement on currency stabilization under a gold standard to prevent rampant inflation. Although he had long supported Wilsonian internationalism, President Franklin Roosevelt feared making any diplomatic agreement that might limit his future policy options in the event of a worsening depression. The administration therefore refused to agree to currency stabilization, pushing instead for tariff reduction. Unable to reach a compromise settlement, the conference adjourned without having reached any major agreements.
Bibliography
Dallek, Robert. Franklin D. Roosevelt and American Foreign Policy, 1932–1945. New York: Oxford University Press, 1979.
Leuchtenburg, William E. Franklin D. Roosevelt and the New Deal, 1932–1940. New York: Harper and Row, 1963.
