ECONOMIC POLICY

Waikato Times, Volume 195, Issue 22467, 30 September 1944, Page 5

ECONOMIC POLICY

GERMANY AFTER THE WAR UNITED STATES PLANS CONTROL OF WAR-MAKERS (United 'Press Assn.—Elec. Tel. Copyrlrht. (Received Sept. 30, 11.80 ~m.) WASHINGTON, Sept. 29 In a letter sent to the Foreign Economic Administrator, Mr Leo Crowley, outlining the major policiei regarding post-war Germany, President Roosevelt said that the following policies should be brought into effect by the Foreign Administration within the scope of its present functions and responsibilities when the military resistance in Germany was overcome:— (1) Export control: With a view to encouraging private trade without interfering with the successful prosecution of the war against Japan the Foreign Economic Administration should relax export controls, compatible with our continuing our war objectives, particularly the defeat of Japan, as quickly and effectively as oossible. International trade on as Cull and free a basis as possible is necessary, not only as a sound economic foundation for future peace, but in order that we may have full oroduction and employment at home. The Government should assist to the extent necessary for a high level of mternational trade by returning international commerce to private lanes as rapidly as possible. Production of Material* (2) Strategical and critical raw materials: In view of the curtailment if our war production after the German phase of the war the Foreign Economic Administration should conult supply agencies, with a view to making an appropriate cut in the oreign procurement programme for trategic and critical materials. This djustment should be made in order o prevent undue and unnecessary nancial losses by American taxayers, to best preserve foreign rela!ons, and to strengthen the foundaon for a high level of international -ade in future. (3) Preclusive buying: I understand he peak of F.E.A. preclusive buying has already been passed as a result jof the United Nations’ victories. The I F.E.A. should continue to take all necessary steps to prevent Japan getting strategic and critical materials but should limit preclusive buying to achieving that end. (4) Economic warfare: F.E.A. studies of the enemy’s war potential and other phases of economic warfare should be reduced and focussed on the war against Japan. Lend-Lease Policy (5) Lend-lease: Until the complete defeat of Japan and Germany the flow of lend-lease aid should be continued in amounts necessary to enable the combined strength of all the United Nations to defeat the common enemies most quickly and with the least loss of life. (6) Surplus property: You should continue to see that no unnecessary surpluses develop out of F.E.A. procurement for lend-lease, U.N.R.R.A. or other purposes. (7) Control of war-making power in Germany: The work of studying from the economic standpoint what should be done in Germany to control its power and capacity to make war in the future.must be accelerated so that Germany does not become a menace again to suceeding generations. (8) Reconstruction and future foreign trade: It is in the national interest of the Uni tech States, also in the joint interest of the United States and other peace-loving nations, that the destruction of war be repaired and the foundations for a secure peace be laid. Any marked improvement in the economic well-being of the United States will aid materially in building a durable peace.