ECONOMIC AID BY U.S.

Press, Volume LXXXVIII, Issue 26869, 23 October 1952, Page 9

ECONOMIC AID BY U.S.

Eisenhower Urges New Policy (N.Z. Press Associattm—Copyright) (R ec 7p.tn.) NEW YORK, October 21. The Republican candidate for the Presidency General Eisenhower, tonight called for a new economic a- -nn n°f\ n e °’? S tO the Kremlin’s preckcuon of economic doom for the free world, of ours!” he take a new look at this economic world “I think that in concert with oar closest allies a in„<r term, consistent programme should be produced aH of our economic power toward reviving the toT world economies and trade as a whole, instead of restrains our concern to emergency relief and isolated piecemeal actions ” General Eisenhower said the recent congress of the All--1 nlo " Cornmun . lst Party in Moscow indicated that the cold war was assuming a new and even more sinister pattern in the form of an economic threat. ’

had disclosed tnat the Soviet Communist empire had lrom the industrial and destruction of the last war, that taken over the great resources . c * ntral and Eastern Europe, and tnat it was determined to disrupt the tree world’s economy. stal r y-eyed economcontemplate that the united States could replace either the Asian market for Japan, or the Eastern European market for Germany, but °- th® Moscow congress *oroid us to contemplate keeping these countries on a permanent subsistence level through annual hand-oiits. which serve only to prolong the agony, without curing the disease. ‘‘?f v ( e can not display more international economic imagination and leadership. the inevitable result will be the gradual absorption of those key areas into the Soviet orbit,” Overseas Saw Materials Declaring that a fresh start must be made in meeting international economic problems, General Eisenhower proposed that the United States should consider the feasibility of encouraging raw material development in many countries. “Our dependence on other nations for raw materials is already very great, and it will increase rapidly as we accelerate the exhaustion of many of our own natural resources.” foreign economic programme of the United States, excluding any military expenditures, had cost 33,000,000,000 dollars. "This huge outlay has not succeeded in producing a minimum basis for the free world nations to stand on their own feet without our continuing support. “In Europe, where the best record was made under the direction of Mr Paul Hoffman there has been reconstruction and encouraging recovery, but Europe has not achieved the ability to become independent of our purse strings. “If at the end of seven years and 33,000.000.000 dollars, the central problem is as far from a solution as it is today, and the international public relations of the United States are worse than they were in 1946. I think it is fair to sa.v that something has been wrong with our thinking.”