‘German Recovery Necessary To Rest Of Europe’

Greymouth Evening Star, 27 September 1947, Page 8

‘German Recovery Necessary To Rest Of Europe’

WASHINGTON, Sept. 25

“I want to state as emphatically as I know how that the United States does not intend to promote the recovery of Germany at the expense of the rest of Europe. Exactly the contrary is true,” said the United States Assistant Secretary of Stale for Economic Affairs (Mr Willard Thorp) in an address to the United States Coal Exporters’ Association today. Mi* Thorp insisted nevertheless that German recovery was a necessary part of European recovery,. Replying to Russian allegations that the,United States was planning to restore Germany’s strength, and to French fears about the level of industry programme for Germany. Mr Thorp said the State Department was keeping fully in mind the problem of security. “We intend to see that Germany does not recreate her industrial potential for war-making purposes,” he said..

The United States Secretary of the Treasury (Mr John. Snyder) said in Berlin that. Germany's present, condition was serious but the foundation of recovery had been, laid and there was no reason why the Germans could not materially improve their economic life during the next several years. It was clear that their productive output must be used for Europe’s recovery. “Europe Not A. Derelict"

The Times, London, in a leading article, says: “It would be a dire misfortune if the United States ignored the urgency of Europe’s immediate needs, but it would be at least as unfortunate if she were led to underrate the vast potentialities of the Continent.

“The current tone of American discussion suggests that there is need on this side of the Atlantic to make it plain that Europe is not a derelict continent likely to prove a constant liability to the New World, but is the home of 400,000 people endowed with a great variety of skills and masters of both an industrial and agricultural economy of signal importance to the world at large. “It is to be hoped, indeed it is essential-, that Western. Europe shall be considered as a good investment

rather than as a wreck to be salvaged or a political mercenary to be pensioned.” u

Looted Gold

The United States is reported to be urging Ihe Gold Commission in Brussels, which has the custody of looted gold recovered from the Nazis, to begin distribution of the gold to European countries not later than October i : l5. The gold belongs to various European countries occupied by the? Germans during the war, and was recovered by the British and American invasion forces.

The commission, on which Britain, France, and the United States are represented, reports that only about £82,500,000 worth is available for immediate distribution, as a reserve must be kept to meet subsequent claims.

The United States is urging that France and Italy, which stand in the most immediate need, should be allowed to draw first on the pool.