Economic Diplomacy
A lifelong Democrat, Acheson worked at a law firm in Washington D.C., Covington & Burling, often dealing with international legal issues before Franklin Delano Roosevelt appointed him Undersecretary of the United States Treasury in 1933. When Secretary William H. Woodin fell ill, Acheson suddenly found himself acting secretary despite his ignorance of finance. Because of his opposition to FDR's plan to inflate the dollar by controlling gold prices, he was forced to resign in November 1933 and resumed his law practice. In 1939-1940 he headed a committee to study the operation of administrative bureaus in the federal government.
Read more about this topic: Dean Acheson
Famous quotes containing the words economic and/or diplomacy:
“When you overpay small people you frighten them. They know that their merits or activities entitle them to no such sums as they are receiving. As a result their boss soars out of economic into magic significance. He becomes a source of blessings rather than wages. Criticism is sacrilege, doubt is heresy.”
—Ben Hecht (1893–1964)
“There are few ironclad rules of diplomacy but to one there is no exception. When an official reports that talks were useful, it can safely be concluded that nothing was accomplished.”
—John Kenneth Galbraith (b. 1908)