AID TO BACKWARD COUNTRIES

Press, Volume LXXXVI, Issue 26121, 25 May 1950, Page 5

AID TO BACKWARD COUNTRIES

Mr Truman’s Plan Passes House 'Rec. 8 p.m.) NEW YORK. May 23. The United States Secretary of Com- i meice. Mr Charles Sawyer, said to-, day that Mr Truman’s plan for assist- ' ap ce l ° underdeveloped 'countries must! largely be financed and carried on by ' Private business. Mr Sawyer was addressing a world trade function spoil-! sored by the New York World Trade! Week Committee. He urged American businessmen to pursue the following three policies to ci eate the understanding necessary for satisfactory business dealings with individuals in other countries:— ’1) To convince other peoples that Americans were interested in their needs and that Americans understood the kind of economy and society other peoples wanted to build. (2) To make it possible for other peoples to utilise the services, skills, I and capital they already had ut their command. This includes fullest use , of local money in those countries! which were short of dollars. (3) To encourage maximum initia-! five on the part of the Governments and businessmen of other countries. Mr Sawyer said that the outlook for world trade was cloudy, but there were two bases for hope of improvement in future—the fact that the 19'9 world trade volume was 10 per cent, above 1938. the previous peak year, and a new awareness in the United States of that nation’s responsibilities toward international collaboration.