Economic Diplomacy
A lifelong Democrat, Acheson worked at a law firm in Washington D.C., Covington & Burling, often dealing with international legal issues before Franklin Delano Roosevelt appointed him Undersecretary of the United States Treasury in 1933. When Secretary William H. Woodin fell ill, Acheson suddenly found himself acting secretary despite his ignorance of finance. Because of his opposition to FDR's plan to inflate the dollar by controlling gold prices, he was forced to resign in November 1933 and resumed his law practice. In 1939-1940 he headed a committee to study the operation of administrative bureaus in the federal government.
Read more about this topic: Dean Acheson
Famous quotes containing the words economic and/or diplomacy:
“Postmodernism is, almost by definition, a transitional cusp of social, cultural, economic and ideological history when modernism’s high-minded principles and preoccupations have ceased to function, but before they have been replaced with a totally new system of values. It represents a moment of suspension before the batteries are recharged for the new millennium, an acknowledgment that preceding the future is a strange and hybrid interregnum that might be called the last gasp of the past.”
—Gilbert Adair, British author, critic. Sunday Times: Books (London, April 21, 1991)
“The policy of dollar diplomacy is one that appeals alike to idealistic humanitarian sentiments, to dictates of sound policy, and strategy, and to legitimate commercial aims.”
—William Howard Taft (1857–1930)