Memorandum 20 November 1946,
CONFIDENTIAL
Agendum No. 669E: The Bretton Woods Agreements I am directed to refer to the discussion which took place in Cabinet yesterday in relation to the above subject. [1]
Cabinet approved that the following recommendation be made to the Federal Parliamentary Labor Party:-
that Australia will join the International Monetary Fund and the International Bank for Reconstruction and Development, but, at the same time, makes clear to Britain, the United States and other interested countries, that the Australian Government regards the fund and the bank and the International Trade Organisation as being closely linked, and that the Government will review the question of continuing Australian membership of the fund and the bank when the outcome of the International Trade Organisation discussions is known. [2]
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1 See Document 215.
2 Caucus finally agreed on 5 March, 1947, to have Parliament ratify the Bretton Woods Agreement as recommended by Chifley.
Legislation was enacted later that month. For an account of the struggle within the A.L.P. on the issue see L. F. Crisp, Ben Chifley, Longmans, 1960, Chapter XIV.
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