Regional President Speech

Nay 'i*. n u x _ , r^ji ^ S L<J a« Not a perfect document ' # I. What representatives took to Bret ton Woods X. Knowledge and experience between wars 2. Two years of study 3* Willingness to make concessions if necessary to avoid in the future II* The problems 1« Loans for reconstruction and development 2. Rules of the monetary game a. Stability - as much as possible b. Flexibility - as little as necessary c. A pool of funds III. The result - a compromise Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis i ¿¿JL s&+~tLA ^ ^ ' £ -4 í-* ^Z ts Ä t ——--J Ay*_-s_ ' <.C < < < < v_ ”^A- ¿^A-L-C? 2.J* /. ¿ t^ y a tZ U ^ ^ ( A y . ?K+<j£/-t4fi£* (u~w >?• & ¿ t ¿£¿44U <aa- ¿LATUUU^O^Uuh f*t é^A^iL, (l+-vúti*¿4Ú <fy% * JbSts^X_j ¿ . ^ , ^ t á / L*-C€-*Á2^j e ^^S t r^ J ¿~J Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis y V«^ vi AáU. Ä-*- Cj^Jtr^-í* \ -t-r (lÁju^ t (J £ £j**A^<~*-£+ aZ^Lu« Ä ^ >óuéL ázLu^ *~f'M ^ t^~tLju<-}*- **/ cy^ /í /v*^V Ji¿4 7 /fïL-fîôf) - y /6«-^ Aaa^ J Í *&W j 'IM+Ujr-t*i W j Y^u. * /« ^ ^ > y ^iuAy tu^J A — —-*{ , Êrw^6^--6* A- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis s), *LA~ >' ■ *r' ~ f( / £ S/0 t , c* / "> * e €nJ ¡ yf*^r _/"* n—<) •' i /£¿ép eS (M y-x^ ? «* jâjkJL^Jl lATO-dç ^ $ *è ä ¿¡C? £¿n¿/ ¿er&J*4. &*** ^ ¿¿£ $ U u ^îp^ t* £u*-t f^ y ßfo d/fu¿Á Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Benjamin Franklin, when he ms assailed by doubts concerning the Constitution itself, pointed the way to resolve such doubts in these word®! Mr. President, I conceive that there are several parts of this Constitution which I do not at present approve, but I am not sure that I shall never approve them. For having lived long, I have experienced many Instances of being obliged by better Information* or fuller consideration, to change opinions even on Important sub» jects, which I once thought right, but found to be otherwise* * * * In these sentiments, Sir, I agree to this Constitution with all its faults, if they are such. I doubt too whether any other convention we can obtain nay b# able to make a better Constitution. For when you assemble a number of men to have the advantage of their joint wisdom, you inevitable assemble with those men all their prejudices, their passions, their errors of opinion, their local interests and their selfish view*» From such an assembly can a perfect production be expected? It therefore astonishes me, Sir, to find this system approach* ing so near to perfection as it does; and I think it will astonish our enemies, who are waiting with confidence to hear * * * that our States are on the point of separation only to meet hereafter for the purpose of cutting one another's throats. Thus, I consent, Sir, to this Constitution because I expect no better, and becauaa Digitized foIr FaRmA SnEoR t sure that it is not the best. The opinions I have had of http://fraseir.tstslo ueisrferdo.orrgs/ are sacrificed to the public good. Federal Reserve Bank of St. Louis

Karl R. Bopp (1945, May 15). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19450516_karl_r_bopp

@misc{wtfs_regional_speeche_19450516_karl_r_bopp,
  author = {Karl R. Bopp},
  title = {Regional President Speech},
  year = {1945},
  month = {May},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19450516_karl_r_bopp},
  note = {Retrieved via When the Fed Speaks corpus}
}