Abstract

The section above, entitled Special Drawing Rights, deals to a large extent with efforts to find a suitable unit of account in lieu of gold or a unit of account based on gold for the purposes of a growing number of treaties. This section deals with certain problems connected with gold-value and other value clauses. Some of these problems arise under domestic legislation that gives effect to treaties that are going to be amended or supplanted but were still in force without change on the date relevant to the problem under consideration. The domestic legislation continued, therefore, to refer to gold value.