Item No: pixc00269
Title: "Old King Cole Was A Merry (?) Old Soul, Etc."
Additional Title: "Old King Cole Was A Merry (?) Old Soul, Etc."
Print and Picture Collection
Created for Evening Public Ledger, date unknown.
As in British and American cases, France could not simultaneously support an overvalued currency and reflate a stagnant domestic economy.... As in these earlier cases, exchange rate realignment did not bring about exchange rate stability. The two-stage depreciation of the franc and the depreciation of the pound and franc relative to the dollar were as steep as the sterling devaluation of 1931 and the dollar devaluation of of 1933. However, in contrast with these earlier cases, the devaluation of the franc did not trigger offsetting devaluations, intensified commercial conflict, or imposition of exchange controls.
- Oye, Kenneth A. Economic Discrimination and Political Exchange: World Political Economy in the 1930s and 1980s. Princeton: Princeton University Press, 1992. Print.
Sykes, Charles Henry, 1882-1942 - Artist