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| | Day, Professor John Percival, Bank for International Settlements |
 | | The plan of the Bank was outlined in the Young Report; on the 14th of November, 1929 a special Organisation Committee at Baden Baden drafted and published the Charter of the Bank and we are now waiting for the necessary treaties between the Powers to provide the basis for the application of the trust agreement. |
 | | The Bank is to be located at Basle and to receive a charter from the Swiss government; its capital is to be 500 million Swiss francs, the subscription of which is guaranteed in equal parts by the Central Banks of the seven Powers concerned; Britain, Germany, France, Belgium, Italy, Japan and the United States. |
 | | The management of the Bank is to be vested in a Board of Directors composed of the Governors of the seven Central Banks or their nominee substitutes, also seven persons representative of finance, industry, or commerce, one nominated by each Governor. |
| www.empireclubfoundation.com /details.asp?SpeechID=2809&FT=yes (2703 words) |
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