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The principal topic of the conference was the convertibility and liquidity of Pound sterling into American dollars and British concerns that non-sterling Commonwealth countries were building up sterling balances for the purpose of conversion into American dollars, the future of the Pound sterling area, and the alleviation of Commonwealth trade restrictions and imperial preference, particularly in the light of the surging American economy and the desire of Commonwealth countries such as Australia for American investment in order for economic development to occur against British concerns that American economic dominance threatened Britain's economic position. This discussion was necessary as the Commonwealth, with the exception of Canada, had a common pool of gold and dollar reserves. Little was accomplished in the economic discussion with the final communique being described as an "agreement in platitudes".