Presumably the emphasis on exchange rate policies was included to deal with the difficulty that if other countries peg to the dollar, then a significant part of the normal adjustment mechanism is neutralized – and that the pegging decision was not that of the United States.
Its founding ceremony took place in 1925, at this spot, in the presence of Lord Balfour, Viscount Allenby, High Commissioner Herbert Samuel, Haim Nachman Bialik, Nahum Sokolov, Harav Kook, Harav Meir, and 10,000 others.