The Bretton Woods Conference was held from 1 July to 2 July 1944 in Bretton Woods, New Hampshire, United States. It had 730 delegates from 44 nations. It was formed for the international monetary and financial order after the Second World War. Three main decisions were taken at the Bretton Woods Conference :
1. An article of agreement was created to set up the IMF- International Monetary Fund, to promote exchange rate stability and financial flow.
2. Articles of agreement were created to set up the IBRD- International Bank for Reconstruction and Development for the reconstruction of countries after the damage caused by the Second World War, through extending loans.
3. Steps for international economic cooperation.
The British wanted to establish direct control over the weavers but could not do so as the existing traders were closely linked with the weavers. Both the traders and weavers usually belonged to the same village and had a good social relationship. The British then removed all such traders and appointed Gomastha to supervise the weavers and have better control over them. However, there were clashes between the weavers and gomasthas due to the following reasons :
1. The Gomasthas was very arrogant and had no close relationship with the weavers.
2. Once, an order was placed, the weavers could take loans for raw material. But, these loans could be sanctioned only by the Gomasthas.
3. The workers were given a lot of work with a very short deadline. If they failed to finish the work, the Gomasthas came to the village with Sepoys. The weavers were then punished.
After the Maratha defeat in the Anglo Maratha war, Bombay became the capital of Bombay Presidency in 1519. The city expanded quickly. People such as traders, businessmen, etc. migrated and settled in Bombay. This was due to the widespread projects of cotton mills. The increase in population without the same amount of land led to settlement issues. Bombay did not grow as per the plan mainly because of the scarcity of land. The land available was used for new projects. Such as the plan to build a great seawall in 1784 and the Back Bay Reclamation Project in 1864. The people were living in close quarters with a just 9.5-meter square yard of space. Since the homes were too small, the streets were used for other activities. Approximately 70% of the people lived in marshy lands and slums. Hence, although Bombay was a face developing city, it posed many problems as there was no proper planning done beforehand.
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