The British Economy in the World of Today
| Date | 01 October 1946 |
| DOI | 10.1177/002070204600100405 |
| Published date | 01 October 1946 |
| Author | Mabel F. Timlin |
| Subject Matter | Article |
The
British
Economy
in
the
World
of
Today*
Mabel
F.
Timlin
T
his
article
presents
a
survey
of
Britain's
economic
position
in
the
world
of
today
and
its
approach
to
certain
policies
for
international
commercial
and
financial
collaboration.'
The
latter
topics
include
discussions
of
the
British
position
on
tariffs
and
preferences,
import
and
export
quotas,
subsidies,
state
trading,
exchange
control,
international
investment,
and
cartels
and
commodity
agreements,
as
well
as
on
the
Monetary
Fund,
the
Bank
for
Reconstruction
and Development, and
the
Anglo-Ameri-
can Loan.
THE
EFFECTS
OF
THE
WAR
ON
BRITAIN'S
ECONOMIC
POSITION
The main
change
in
Britain's
economic
position
as
a
result
of
the
war
must result
from
the
large-scale
disinvestment
of
wealth, estimated in
the
White
Paper
at
thirty
billions
of
dollars.'
This
sum
is
said
to
represent
perhaps
twenty-five
per
cent.
of
*Editor's
Note:
Dr.
Timlin's
article
summarizes,
expands
and
com-
ments
upon
those aspects
of
the
discussions
at
the
round
tables
of
the
Annual
Conference
of
the
Canadian
Institute
of
International
Affairs,
held
in
Toronto,
May
25-26,
1946,
devoted
to
Britain's
economy
in
the
post-war
world.
While
rounding
out
the
discussions
to
bridge
unavoid-
able
gaps,
the
author's
additions
thereto
have
in
general
been limited
to
developments subsequent
to
the
conference
and
down to
mid-July.
The
confidential
nature
of
the round
table
discussions
precluded
her
from
identifying
ideas
set
out
at
the
meetings
with
their
particular
sources.
The
author
assembled
and
organized
her
material
while
in
the United
States
upon
a
Guggenheim Fellowship
and
wishes
to
express
her gratitude
to
the
Guggenheim
Foundation for
the
leisure
to
pursue
such
tasks.
'It
was
apparent
that
several
discussion
leaders
at
the
conference
had
had
first-hand
experience
of
conditions
in
the United
Kingdom
and
that
all
were
apparently familiar
with
the White
Paper
of
the
Bri-
tish
Government
(Cmd.
6707)
entitled "Statistical
Material Presented
During the
Washington Negotiations,"
presented
to
the British
Parlia-
ment
in
December,
1945.
The
material
set
out below was
checked
with
this
source
and
expanded from
it.
'See
p.
14
of
the
White
Paper.
Private
or
non-industrial
disinvest-
ment
is
not
included
in
this
figure.
Private
disinvestment
is
to
some
degree
offset
by the
possible
post-war
value
of
capital
works
undertaken
for
war
purposes. Wherever pounds
sterling
are
converted into
dollars
in
this
discussion,
the
conversion
is
at
the
rate
of
$4.03
(U.S.)
to
a
pound.
324
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