Apartheid and international monetary reform have received much attention in recent years yet littleof the discussion of these issues has linked them in any meaningful way. The call for changes in the international monetary system has been based upon an alleged insufficiency in international liquidity anda need for an adjustment mechanism for secular balance of payments disequilibria. Opposition to apartheid, South Africa's segregationist racial policy, has been based upon humanitarian concern for the condition of black Africans in that country.