AMERICA'S PROBLEM

Evening Post, Volume CXL, Issue 54, 1 September 1945, Page 6

AMERICA'S PROBLEM

Sir,—The shutting off of lend-lease aid has disturbed the receiving countries. I should like to comment, sir, that when lend-lease was instituted it was held by all the United Nations as the greatest gesture ever made by any one nation to others. Now that it has terminated because of a cause in which we all rejoice, the recipients appear so wrapped in their disappointment that not one word of thanks has appeared publicly for past favours. We all recall the late President Roosevelt and his explanation of lend-lease to Congress as "Does one hesitate to lend one's hose to a neighbour when his house is on fire?" I do believe it is an oversight not to thank the donor when the hose is used up and the fire is out. • -One could assume from reading the news that some of the recipient countries were facing up to very stiff problems in the termination of lend-lease. Whilst this is probably correct, I suggest that these countries have one problem that is not so serious to them as it is to the U.S.A.—and that is unemployment. • Debtor countries, such as Britain, can give full employment in the production of goods for export against indebtedness. U.S.A., on the other hand, is in the reverse position, with most countries sending her goods to pay debts, and no exports possible until the world again becomes in credit. Bretton Woods Agreement, which has now been ratified by the United States Congress, was basically founded on the knowledge of this situation arising, and if the U.S.A. is still willing to ship goods, not under lend-lease, but under a different syst°m which commands repayment, surely this is a logical course to follow. The particular point in Bretton Woods which interests us is that, in repayment of debts incurred in the United States, goods must be imported from the country concerned, and is not this the basic fundamental of world prosperity? A freer and greater exchange of goods between nations must enrich all who participate—l am, etc- c