but there were already signs that the pressure familiar to them before the Last Monetary Crisis of 1866 was about to occur, and unless the necessary reforms were made they would again witness the spectacle then so often seen—of Committees sitting upstairs over cases in which were employed highly-paid counsel and witnesses from all quarters; but the Committees only 523 giving four hours out of the 24 to the consideration of the cases; and of tribunals divided only by a wall arriving at diametrically opposite decisions upon cases that were substantially similar.

He has been quoted as saying: "My Commission believes that at the next allocation of Drawing Rights a special allocation for developing countries could be envisaged to compensate the losses in the purchasing power of their reserves resulting from the Last Monetary Crisis" The French support it, and from Germany Dr. Schiller said he favoured a greater share for the third world but with a smaller proportion of special drawing rights for industrialised countries to compensate.