Evening star., 1940-07-23
some time after the war ends.
IF the standards a living Of Il

some time after the war ends.
If the standards ol living Of the
American peoples are to be main-
tanned at levels already achieved,
and particularly IL they are to be
raised in accordance with the legit-
innate aspirations of these peoples,
production and distribution must
expand, not only in this hemisphere,
but throughout the world. This
same condition is essential to the
well-being of all other areas. For
no nation or group of nations can
hope to become or to remain pros
porous when growing poverty stalks
the rest of the earth.
Under existing conditions the
problem is singularly pressing.
Though war now is in progress, we
must contemplate its eventual end.
At that time, perhaps 10000, 900 OF
people in Europe, and many millions
IN other parts of the world, who
have entirely engaged in war work,
must find a new place for them
selves in the economics of peace.
At the same time, it is to be
assumed that, once the pressures OF
war are ended. there will be a gen.
eral demand that reasonable condi-
tions of life may be restored. To
effect this transition, and to supply
the world with what it then needs,
will necessitate a great increase in
production, distribution and ex-
change of goods. Failure to achieve
this can only mean that the tragedy
of war would be followed by the
still greater horror of disintegration
in great areas.
International Trade
Vital to Rehabilitation.
1t is already plain that interna-
tional commerce is indispensable II
economic rehabilitation is to be
achieved. 1t is also plain that the
only available means of doing this
Is to resume, as soon as circum-
stances permit, the normal currents
of world trade. I have no doubt
that the American republics are
ready and indeed anxious to do
their part In bringing this about;
though the extent to which we can
thus play our part must depend
materially on the economic meth
DDS and policies pursued by other
countries.
We are confronted with two oppo-
site trading methods. Open trade
freed as rapidly as may be prac-
ticable from the obstruction and
regimentation of excessive restric-
tions, can accomplish the necessary
task. Prosperity for the Ameri-
can republics or for any part of the
world cannot be achieved-even the
necessities of the war-torn areas OF
the earth cannot be met-by regi-
mented or restricted trade. espe-
cially directed under a policy of ma
tional or regional autarchy. We
recognize the need for a transition
period, but we are convinced that
there can be only one satisfactory
permanent policy.
Only Fair and Peaceful
Trade Can Thrive.
We have long known from expert.
ence that international trade in
evitably declines in volume and Use
fulness when it is conducted on a
basis of exclusiNe e bilateralism, or is
pressed to unfair advantage, or is
used to attempt economic domina-
ton. Eventually. such methods de-
stroy the trade AMI the trader
alike. In the present situation, they
are totally unable to provide that
volume and distribution of goods
which alone can ssve great sreas
from intense distress.
Only where equal treatment, fair
practices, nondiscrimination and
peaceful motives lie beceath trade
can 1t develop to the degree needed
to rehabilitate shattered world and
to provide foundation for further
economic progress.
Today. in spite of what has oc-
CURED in other parts of the world
the American nations continue to
adhere to liberal trade principles
and are applying them in their re-
lations with each other as fully as
the present state Of affairs permits
They should be prepared to resume
the conduct of trade with the en-
tire world on this basis as rapidly
as other nations are willing to dc
likewise.
In the meantime. the, American
nations must and should do every
thing In their power to strengthen
their own economic position, to i'm
prove further the trade and other
economic relations between and
among themselves, and to devise
and apply appropriate means OF
effective action to cope with the
difficulties, disadvantages and dan
gers of the present disturbed and
dislocated world conditions. To ac-
complish these purposes. the ma
tions of the Western Hemisphere
should undertake the fullest measure
of economic corporation, so de-
signed and so conducted as to serve
the best interests of each nation
and 10 bring injury to none.
Progress Already Made
For Economic Cooperation.
Progress has already been made
toward the forging of new tools tc
carry out certain phases If economic
cooperation on an inter- american
basis The Inter American Financial
and Economic Advisory Committee
which was established last Novem-
ber pursuant to a resolution of the
Panama meeting, has proved itsel1
to be an efficient body for consider
ing and working out such mechan-
isms. 1t has recently created the
1nter-American Development Com
mission to carry out the work OF
planning and promoting the &C.
velopment of new productive facili-
ties in the American Republics.
In addition. it prepared the
framework for the establishment OF
an Inter-American Bank to foster
cooperation in the spheres of long
term development and of money and
| foreign exchange. The Government