The American objectives with respect to the pattern of post-war international economic relations are in their general outlines clear. These objectives are a post-war world in which: trade barriers will be as moderate and as nondiscriminatory as governments and peoples, including our own, can be persuaded to make them; exchange rates between national currencies will have assumed stability; currencies will be freely convertible into each other, at least with respect to transactions on ordinary current account; longterm capital will move from capital-rich to capital-poor countries in quantities and on terms mutually satisfactory to creditor and debtor; ways of international collaboration aiming at maintenance of high-level employment will be devised; abundant scope will be preserved for the exercise in the international economic field of competitive enterprise, subject to standards and rules intended to prevent abuse but not to stifle and suppress private initiative.