Changes

Historians have long been puzzled as to Roosevelt’s motivation in killing the conference--he had consulted with no one.  The general assumption is that he believed the U.S. was tired of international activity, especially since the system of repayment of World War I loans to the U.S. had broken down.  Roosevelt feared that an international agreement might prevent him from taking the U.S. off the gold standard and limit his flexibility to inflate the dollar.

Historians have long been puzzled as to Roosevelt’s motivation in killing the conference—he had consulted with no one.  The general assumption is that he believed the U.S. was tired of international activity, especially since the system of repayment of World War I loans to the U.S. had broken down.  Roosevelt feared that an international agreement might prevent him from taking the U.S. off the gold standard and limit his flexibility to inflate the dollar.

Roosevelt’s erratic actions alienated many of his supporters. For example, James P. Warburg, head of one of the great New York banking houses, was one of the few Wall Streeters to join the [[New Deal]]. FDR put him in charge of planning the American role at the conference. FDR’s rejection of the gold standard alienated Warburg, who became the first of many to break with the administration. A successful polemicist and writer, Warburg became a leading spokesman for the conservative Liberty League.  

Roosevelt’s erratic actions alienated many of his supporters. For example, James P. Warburg, head of one of the great New York banking houses, was one of the few Wall Streeters to join the [[New Deal]]. FDR put him in charge of planning the American role at the conference. FDR’s rejection of the gold standard alienated Warburg, who became the first of many to break with the administration. A successful polemicist and writer, Warburg became a leading spokesman for the conservative Liberty League.  

The British and French were horrified at the collapse of international cooperation; Nazi Germany was delighted. The long-term result was that the major countries went their own way and increasingly turned to "autarky" -- that is, policies that insulated themselves from the rest of the world. The U.S. for the first time entered a period of isolationism, disconnecting itself from the momentous events in Europe, where in Germany [[Adolf Hitler]] had just come to power (January 1933).   

The British and French were horrified at the collapse of international cooperation; Nazi Germany was delighted. The long-term result was that the major countries went their own way and increasingly turned to "autarky"—that is, policies that insulated themselves from the rest of the world. The U.S. for the first time entered a period of isolationism, disconnecting itself from the momentous events in Europe, where in Germany [[Adolf Hitler]] had just come to power (January 1933).   

==Further reading==

==Further reading==

* Dallek, Robert. ''Franklin D. Roosevelt and American Foreign Policy, 1932-1945'' (1979)

* Dallek, Robert. ''Franklin D. Roosevelt and American Foreign Policy, 1932-1945'' (1979)

* Freidel, Frank. ''Franklin D. Roosevelt: Launching the New Deal'' (1973) ch 22

* Freidel, Frank. ''Franklin D. Roosevelt: Launching the New Deal'' (1973) ch 22

* Moley, Raymond. ''After Seven Years'' (1939) pp 196-69, Moley had been a top FDR advisor and repudiated the New Deal.

* Moley, Raymond. ''After Seven Years'' (1939) pp 196–69, Moley had been a top FDR advisor and repudiated the New Deal.

* Morrison, Rodney J. "The London Monetary and Economic Conference of 1933: A Public Goods Analysis" ''American Journal of Economics and Sociology,'' Vol. 52, No. 3 (Jul., 1993), pp. 307-321 [http://www.jstor.org/stable/3487153 in JSTOR]

* Morrison, Rodney J. "The London Monetary and Economic Conference of 1933: A Public Goods Analysis" ''American Journal of Economics and Sociology,'' Vol. 52, No. 3 (Jul., 1993), pp. 307–321 [http://www.jstor.org/stable/3487153 in JSTOR]

* Nichols, Jeannette P. "Roosevelt's Monetary Diplomacy in 1933," ''American Historical Review,'' Vol. 56, No. 2 (Jan., 1951), pp. 295-317 [http://www.jstor.org/stable/1840444 in JSTOR], by leading historian

* Nichols, Jeannette P. "Roosevelt's Monetary Diplomacy in 1933," ''American Historical Review,'' Vol. 56, No. 2 (Jan., 1951), pp. 295–317 [http://www.jstor.org/stable/1840444 in JSTOR], by leading historian

[[Category:Finance]]

[[Category:Finance]]

[[Category:Great Depression]]

[[Category:Great Depression]]

[[Category:New Deal]]

[[Category:New Deal]]