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End of the Sterling Area

On 29 September 1976 problems facing the Prime Minister, James Callaghan, are illustrated on the front cover of Punch magazine.

On 29 September 1976 problems facing the Prime Minister, James Callaghan, are illustrated on the front cover of Punch magazine.
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From the 1950s until the 1970s Britain faced a series of challenges in international finance, including frequent balance of payments crises. In the 1970s changes in the way foreign exchange was handled at the international level saw the end of the sterling area.

Related documents

The Conservatives and the balance of payments crisis

Cabinet Conclusion 4. Economic Situation. 5 November 1951 (PDF, 1.552MB)

Cabinet Conclusions 1 & 2. Balance of Payments and The Economic Situation. 22 January 1952 (PDF, 1.644MB)

Cabinet Memorandum. Economy. Note by the Chancellor of the Exchequer. 3 November 1951 (PDF, 0.453MB)

Cabinet Memorandum. The Economic Situation. Memorandum by the Chancellor of the Exchequer. 19 January 1952 (PDF, 2.300MB)

Cabinet Memorandum. The Balance of Payments Situation. 19 January 1952 (PDF, 1.923MB)

Cabinet Memorandum. The "Collective Approach to Convertibility". Memorandum by the Paymaster-General. 31 October 1952 (PDF, 0.665MB)

ROBOT

Cabinet Memorandum. External Financial Policy. Memorandum by the Chancellor of the Exchequer. 28 June 1952 (PDF, 1.369MB)

Cabinet Memorandum. External Financial Policy. Memorandum by the Paymaster-General. 30 June 1952 (PDF, 0.841MB)

Cabinet Memorandum. External Financial Policy. Memorandum by the Chancellor of the Exchequer. 3 July 1952 (PDF, 0.555MB)

Cabinet Conclusion 3. Economic Situation. 12 June 1952 (PDF, 1.211MB)

Cabinet Memorandum. Balance of Payments Prospects. Memorandum by the Chancellor of the Exchequer. 9 March 1954 (PDF, 0.900MB)

Devaluation and the end of the Sterling Area

Cabinet Memorandum. The Economic Situation. Memorandum by the President of the Board of Trade. 3 September 1955 (PDF, 0.868MB)

Cabinet Memorandum. Social Service: Possible Economies. Memorandum by the Chancellor of the Exchequer. 30 January 1957. (PDF, 1.030MB)

Cabinet Memorandum. Government Expenditure. Memorandum by the Minister of Education. 30 January1957. (PDF, 0.445MB)

Cabinet Memorandum. The Economic Situation. Note by the Chancellor of the Exchequer. 14 October 1957 (PDF, 0.313MB)

Cabinet Conclusion 5. Economic Situation. 27 June 1972 (PDF, 2.502MB)

Search using Sterling area Bretton Woods International Monetary Fund

Further reading

Dell, E., The Chancellors: A History of the Chancellors of the Exchequer 1945-1990 (London: Harper Collins Publishers, 1996)
Cain, P.J. & Hopkins, A.G., British Imperialism Crisis and Deconstruction 1914-1990 (London and New York: Longman, 1993)

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