The American-French Divergencies during the Preparatory Works for the International Economic Conference in London (31st October 1932 – 12th June 1933)

Abstract

The article presents main American-French divergencies in the period preceding the International Economic Conference in London. The question of the unpaid French war debts towards the United States was the basic problem of bilateral relations. The trade barriers were important as well: high custom duties and the contingents agreed by both countries in the years of the „great crisis”.

The efforts to bring the attitudes nearer were taken by the Americans and the French during preparator works before the Conference. The changes of paying war debts were proposed; the provisional agreement about suspension of custom duties and even the establishment of stabilizing fund of three currencies (dolar, frank and pound) was planned. But the initiatives failed. The French aspiration to protect their production and export was its main reason. President of the USA regarded the priority of internal reforms, what was opposite to the settlement of the Preparatory Committee (f.i. devaluation of dolar). Lack of compromise between France and the United States was the main reason of fiasco of the London Conference, which started 12^th June 1933.