of the damage done by the Great Depression in restoring a degree of economic coherence between the three major Western powers–France, Britain and the United States.5 Since 1933 both Britain and the United States had experienced recovery from the recession, but they were still at loggerheads over America’s new agenda of trade liberalization. France for its part languished in the tightening corset of the gold standard. The third and most familiar facet of appeasement, finally, was the effort to construct a package of concessions sufficient to tie Hitler into a lasting peace settlement in Europe.
