|
|
That The Growth Of Monetary: The representatives of the seven countries also expressed belief that "henceforth officially-held gold should be used only to
effect transfers among monetary authorities." Finally, they announced that they no longer felt it necessary to buy gold from the market on the ground that the growth of monetary reserves in the future would be assured by the creation of new international money. To these ends, they invited "the cooperation of other central banks."
The gold content of the U.S. dollar, as fixed in 1934, is also the measure of value or fixed point of reference for claims of governments on international monetary institutions and for their obligations toward these institutions, including the International Monetary Fund. The unit of value of the new international monetary facility-special drawing rights—is also equivalent to the 1934 gold content of the dollar.
The University of Chicago—once a defunct Baptist college—has become a world-renowned center of learning. Contributing to its birth and growth were the monetary gifts of John D. Rockefeller and Marshall Field and the intellectual gifts of its first president, William Rainey Harper. |
|
|
|
|
