Word: baden
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Dates: during 1920-1929
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...bank for international settlements was made an integral part of the Young Plan for the payment of German Reparations," he continued. "From October 4 until November 14 a group of internationally known bankers has been engaged at Baden-Baden, Germany. In drawing up the statutes and the charter of the new institution. Details as to the statutes and the charter have been made public recently but the trust agreement, which provides how the new bank shall take over reparations work, cannot be completed until the Second Hagne Conference between the Powers...
...bankers have left Baden, and their work awaits the decision of a second meeting of the Powers at the Hague. In the interim, persons whose knowledge of the situation is valued are plagued by the press to declare an opinion. Else where in this mornings's CRIMSON Professor Doriot has explained to Harvard readers the work which was accomplished at Baden, and has found but one criticism or cause for regret great enough to deserve his stress. Frankfort, he says, or Cologne, or some other German city might have been superior to Basel as a location for the International Bank...
There is quite a little to be said for such a location for the Bank, and no doubt the bankers assembled at Baden took care to say just that. But the reasons for locating the Bank in Switzerland are clear, and it is difficult to see how the balance could be overweighted except in favor of some other country which holds the same neutral position as Switzerland, and at the same time boasts an age-old reputation as a European banking center...
...Bankers who assembled at Baden had to rackon with the jealousy of the Powers which forbade locating the new Bank in any center where it might be suspected of coming immediately under the thumb of one or another central bank. They had to secure some centrally located spot which could focus the European money markets, and one able to recommend itself by its banking facilities. Above all they must have been moved by the strenuous fight made by the Agent General for Reparations to remove from German soil all vestiges of financial "control" and to enable the German nation...
...realization of the economic interdependency of nations, a doctrine which has grown with enormous strides in the decade since the war, was consummated yesterday at Baden-Baden when final details as to the proposed World Bank were issued. If this institution, designed primarily to facilitate execution of the Young reparations plan, works out to its theoretical conclusion, it should stand among the greatest reforms of the twentieth century...