So-Called Dollars


Purpose: To establish, finally and "with haste," International Monetary Fund and International Bank for Reconstruction and Development, thus eliminating "gamble" in international financial transactions.

Organization: In July 1944, at famous Bretton Woods, NH, Conference, 44 nations met to draw up Articles of Agreement to become operative Dec. 27, 1945. Resources of Fund and Bank are derived from subscription quota established for each nation. By time of this Conference, 38 countries had become members, increasing to 69 by Sept., 1958, and to 185 by June, 2007.

Site, Dates, Attendance: General Oglethorpe Hotel, Wilmington Island, off Savannah; March 8 to 22, 1946. In attendance were 300 delegates from "most of the countries of the world."

Comment: Fund and Bank function to promote international monetary cooperation, expansion of international trade and stability of exchange, to assist in establishment of multilateral system of payments for transactions between members and to permit members, under certain conditions, to draw upon resources of Fund for specified purposes. Bank began operations June 25, 1946; Fund commenced March 1, 1947.

Medal: Sponsored by Savannah Junior Chamber of Commerce; 25,000 struck by Osborne Register Co., Cincinnati, Ohio. At Conference dinner, staged by regular Chamber, a medal was placed at each plate; remainder sold from Junior Chamber headquarters for nominal price.

Photos courtesy of Jonathan Brecher

Obv. Male bust l. within circle; outside above, around Franklin Delano Roosevelt; below 1882 -- o -- 1945
Rev. In center is map of Georgia; across map Savannah / Ga.; above, around International Monetary Conference; below map, around * Mar. 8 to 22, 1946; microscopic Osborne Register Co. Cincinnati near bottom edge.

HK-495 Gilt. 33mm.

HK-491 to HK-494