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INTERNATIONAL MONETARY CONFERENCE
1946
SAVANNAH, GA
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.
 
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.
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