Spearhead Currency: Monetary Sovereignty and the Liberation of France. Issue 2 (3rd March 2020)

• Record Type: Journal Article
• Authors: Mouré, Kenneth
• Is Part Of: International history review. Volume 42:Issue 2(2020)
• Page Start: 278
• Page End: 297
• Publication Date: 2020-03-03
• Subjects: Spearhead currency -- monetary sovereignty -- CFLN -- Charles de Gaulle -- Allied Military francs -- yellow seal dollars -- BMA notes; History -- Periodicals; Histoire; History; Internationale politiek; Periodicals; Electronic journals; 905
• DOI: 10.1080/07075332.2019.1566159
• Languages: English
• ISSNs: 0707-5332

Abstract

Abstract: The Allied preparations to liberate Europe from German occupation included planning for army purchasing in combat zones and for the restoration of monetary order in liberated regions. The idea of 'spearhead currency' was developed in 1942 with US troops using 'yellow seal dollars' to pay troops and purchase goods and services in North Africa. But Allied policy worried European governments in exile, and Allied monetary policy adapted to take more careful consideration of currency issue as a critical realm of national sovereignty. France proved to be a particularly difficult case. President Roosevelt did not want to recognize Charles de Gaulle and the CFLN, but Allied planners and military needed to work with competent French civilian authorities if they were to secure liberated regions and advance into Germany without committing larger numbers of military personnel to manage civilian affairs.