AMERICAN AID POLICY

Press, Volume LXXXIII, Issue 25179, 9 May 1947, Page 7

AMERICAN AID POLICY

FINANCING FOREIGN PURCHASES ACHESON’S SPEECH (N.Z. Press Association—Copyright) Ufe- UM pm.) NEW YORK. May 7. j The-. Wafted States must continue taaaclng foreign purchases through I|MB and must give top priority to countries seeking to preserve their independence against totalitarian pressure, the United States Under-Secre-tory of State, Mr Dean Acheson, deglared » a speech at Cleveland. . 7 Mr Acheson added: "Since the world nymaiW exceeds our ability to supply, we shall adopt the common-sense 'policy of concentrating our assistance Jpeareas where it will be most effective in building economic stability, in promoting human* freedom under democratic institutions, and in fostering liberal trading policies. “We must push ahead with the reconstruction of those two great workshops of Europe and Asia, namely, Germany and Japan, on which the ultimate recovery of two continents so largely depends.” The only sound way to end deficit financing was for America to accept increased quantities of goods from abroad. He said the Geneva conference must succeed. Trade barriers must be brought down.