4.8 • 812 Ratings
🗓️ 28 December 2016
⏱️ 30 minutes
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0:00.0 | This is damn interesting. Headphones recommend it. By the summer of 1944, the Mount Washington Hotel |
0:13.7 | had been mothballed for two years. Nestled deep in the Appalachian Mountains, the sprawling resort was |
0:20.3 | once a favorite getaway for wealthy New Englanders. |
0:23.6 | But in the wake of the Great Depression and the Second War to End All Wars, the end appeared nigh for this silent relic of America's Gilded Age. |
0:34.6 | Then the U.S. Treasury Department offered its owners a staggering $300,000 if they would host |
0:40.2 | a conference to start in less than a month. |
0:45.1 | An army of hotel workers and hastily recruited townspeople got to work. |
0:50.0 | On the 1st of July, 730 delegates from 44 countries checked in and proceeded to conduct |
0:55.4 | one of the most influential economic conferences of all time, carving into history the name |
1:00.3 | of the Sylvan Outpost where it was held, Bretton Woods. |
1:05.0 | Known officially as the United Nations Monetary and Financial Conference, the Bretton Woods |
1:09.2 | talks focus primarily on foreign exchange |
1:11.5 | rates and other tedious minutia of monetary policy. |
1:15.3 | With the world engulfed in war, few in those days were giving much thought to topics as |
1:19.2 | arcane as these, but some people were giving it quite a lot of thought. |
1:23.4 | One was U.S. Treasury Advisor Harry Dexter White, who had been toiling in relative obscurity |
1:28.3 | to forge an exchange rate policy that all nations on earth would agree to. |
1:32.3 | Nothing like this had ever been attempted before. |
1:38.3 | Now, the technocrat from Humble Roots was about to pull it off, earning recognition |
1:42.3 | and his first official government title, |
1:44.8 | Assistant Secretary to the U.S. Treasury. Harry White would soon experience recognition of another |
1:50.3 | sort, with his name splashed across newspaper headlines, but for reasons having nothing to do with |
... |
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