Monetary Stability
The archives of the Universal League show that the intention was to mint a coin with a fixed value. The League saw this stability as the only way to lift the world from the pressures of economic differentials that tended to result in conflicts among peoples. Exchange rates for the Stelo outside the Netherlands were based on 1946 exchange rates for other currencies quoted by the largest Dutch commercial bank.
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Famous quotes containing the words monetary and/or stability:
“There is no legislation—I care not what it is—tariff, railroads, corporations, or of a general political character, that all equals in importance the putting of our banking and currency system on the sound basis proposed in the National Monetary Commission plan.”
—William Howard Taft (1857–1930)
“The world can be at peace only if the world is stable, and there can be no stability where the will is in rebellion, where there is not tranquility of spirit and a sense of justice, of freedom, and of right.”
—Woodrow Wilson (1856–1924)