J. P. Morgan pushed Italy as the next currency stabilization target

Evidence

For their part, J. P. Morgan and other bankers “were anxious” that “stabilization should proceed whenever possible and Italy should naturally be [the] next place”— i.e., whatever interventions were necessary to stabilize the currency should be taken (cable of J. P. Morgan to Norman, November 8, 1926, G1/307, fol. 15). — Clara E. Mattei, The Capital Order, 1454

Categorization

• CANDY: A neat archival nugget — Morgan telegraphing London about making Italy next on the stabilization list.
• SHARE: Would interest anyone working on interwar central bank cooperation or the Baker/Schacht-style stabilization pattern.