 On July 3, he issued a message to the conference that condemned its efforts at stabilization when "broader problems" existed and asserted that the exchange rate of a nation's currency was less important than other economic values.Roosevelt's rejection of the agreement gathered an overwhelmingly-negative response from British, French, and US internationalists.British Prime Minister Ramsay MacDonald feared that "Roosevelt's actions would destroy the Conference" and Georges Bonnet, rapporteur of the French Monetary Commission, is said to have "exploded."