국제투기자본과 BIS

 https://en.wikipedia.org/wiki/Bank_for_International_Settlements

Background

International monetary cooperation started to develop tentatively in the course of the 19th century. An early case was a £400,000 loan in gold coins, in 1825 and facilitated by the Rothschilds, from the Bank of France to the Bank of England, which was facing a bank run. The Bank of England again borrowed from its French counterpart (and from the Hamburger Bank) in 1836 and 1839, and lent to it in return in 1847.

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It was decided to create the BIS in the context of negotiations over World War I reparations which plagued international relations in Europe throughout the 1920s. Following the Treaty of Versailles, a Reparation Commission was set up in January 1920 to determine the amount of German reparations. Conferences at Spa in July 1920 and London in March 1921 were followed by the occupation of the Ruhr in January 1923, and eventually the Dawes Plan approved at another London conference in July–August 1924. The Dawes Plan allowed for a more constructive atmosphere, materialized in diplomacy by the Locarno Treaties in October 1925 and encouraging Montagu Norman, the influential governor of the Bank of England, to envisage the creation of what he described in September 1925 as "a private and eclectic Central Banks' 'Club', small at first, larger in the future."^[8]: 30 That vision was first materialized at a meeting in early July 1927 which brought together Montagu, his friend Benjamin Strong, head of the Federal Reserve Bank of New York, Reichsbank president Hjalmar Schacht, and Bank of France vice governor Charles Rist at a private home on Long Island (the Bank of Italy had hoped for an invitation but was not included). A second meeting was scheduled in Algeciras, but was not held because of the bad health of Strong, who eventually died in October 1928.^[8]: 31 

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American banker Owen D. Young (1874–1962) played a central role in the conception and establishment of the BIS in 1929–1930

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Central bankers Montagu Norman (for the UK) and Hjalmar Schacht (for Germany) were the most prominent protagonists of BIS meetings during most of the 1930s^[9]: 50 

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 Political positions within the Herbert Hoover administration made it impossible for U.S. Federal Reserve System officials to be formally involved in the initiative, but the U.S. was still able to retain major influence in the proceedings because of a shared perception amongst negotiators that the project would fail without U.S. participation. Major figures of the U.S. financial world would participate in the joint bank, and act in close cooperation with the Federal Reserve Bank of New York. The leverage held by the U.S. allowed Young and J. P. Morgan Jr. to make sure that Americans would be in leadership position at the bank when it started operations, as indeed happened.^[11] 

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The BIS concept was agreed to in August 1929 at the first part of the Hague conference on reparations. The bank's Charter, Statutes, Trust Agreement, and Convention on its relations with the host country were subsequently drafted by a special Organisation Committee chaired by Jackson Reynolds, president of the First National Bank of New York,^[8]: 47 which met in the discreet location of Hôtel Stéphanie (part of which later became Brenners Park-Hotel & Spa [de]) at Baden-Baden from 3 October to 13 November 1929; the intense work was marred by the death of Delacroix from a heart attack during the proceedings.^[12] Aside from Reynolds, American participants in Baden-baden also included Melvin Alvah Traylor, president of the First National Bank of Chicago, Warren Randolph Burgess, Shepard Morgan, and Leon Fraser [de] (a legal expert with the Agent General for Reparation Payments), with J. P. Morgan Jr. monitoring the proceedings and advising from London.^{[11]: 616-618}