League of Nations
League of Nations: the forerunner of the United Nations, established in 1919 as part of the Treaty of Versailles. The League’s main aims were collective security, arbitration of international disputes, reductions in armaments and open diplomacy. By the 1930s there were serious doubts about its efficacy, though it continued to have a legal existence until 1946 when it was formally abolished. The League had a work program on international trade, but the onset of the Great Depression in the late 1920s and the deteriorating international political situation eliminated any great enthusiasm to engage in joint action for the revival of international trade.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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