This chapter discusses the colonies of the United States and the decision of the government to “shake them loose.” It first looks at the colonies, which were considered as the “dependent” areas. It reveals that the International Monetary Fund and the World Bank were founded in order to control the postwar financial flows and direct capital investment into these dependent territories. The discussion shows the efforts that went to defining the position of the U.S., as well as the territories' shift from resources to trusteeship. The chapter ends with a discussion of the U.S. mission to London, where the selected representatives—including Bowman and Undersecretary of State Edward Stettinius—addressed trusteeship, dependent territories, and other issues of postwar reconstruction.
Keywords: colonies; International Monetary Fund; World Bank; financial flows; capital investment; Edward Stettinius; postwar reconstruction
Chapter. 11754 words.
Subjects: History of the Americas
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