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September II, 19*4, ISr, Robert Cromie* the Vancouver Sun f ?ancOliver, British Columbia* Dear ****• Croaiej Thanks very much for sending me your interesting editorial about the flight o: capital from the United States* I agree that this is a very serious problem which must be taken into consideration In the determination of any International monetary policy* There I* little doubt In &y Bind but that tnese rapid movements of capital froa one country to another both on long and short term account have been one of the most unsettling factors in International finance and trade and which sort than anything else broke down the operation of an International gold standard. Any future Monetary policy suet consequently prevent such JLovoraei;tb from adversely effecting the banking and economic situation both in the country which is losing funds and the country which is receiving their and probably it will take an intelligent sad vigorous cooperation between the v&rioot central banks of the world to successfully bandit the B-any problems which sre involved in establishing monetary stability« I M well and enjoying a,y sta; in Wanhir,gton very With kind regard*j I &m9 Very sincerely yours* This article is protected by copyright and has been removed. The citation for the original is: Vancouver Sun, “American Dollars Take Flight,” August 27, 1934, p. 4.
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