Evening star., 1942-02-27
Economic Cooperation

The Anglo American agreement de-
fning the principles and methods OF
mutual assistance in prosecuting
the war is concerned primarily with
the system of lease-lend aid and Is
technically restricted to the two
governments involved. But the text
of the agreement itself envisages a
far wider scope in both time and
space. America and Britain declare
officially that the ultimate settle
ment Of accounts will be determined
in no narrow bookkeeping fashion,
but according to the broadest con-
siderations of equity and mutual
advantage. Furthermore, it Is ex-
plicitly stated that this agreement is
to provide the foundation for early
detailed discussions between the i'm
mediate signatories and other like
minded governments for the extern
sion to them of these same principles
and methods.
The present agreement clarifies
and synchronizes two policies begun
before the United States entered the
war. The first of these is the system
of lease-lend aid, which, from the
very start, was designed to assist all
nations resisting Axis aggression,
even though Britain was the chief
beneficiary. The latest report OF
Lease-Lend Administrator StettiniuS
reveals the tremendous momentum
which this policy has attained since
it went into effect less than nine
months ago. 1t Is now running at
the rate Of nearly $500, 100000 per
month, with $4,000, ,0O0, 900 allocated
and about $500, 900 900 more asked
for. The benef1ciaries include Brit
ain and the British Empire, China,
the Dutch Indies, Russia, and even
de facto regimes like the Free Bel
gians and the Free French. The
economic consequences of this world
wide transference of goods and ma
terials are incalculable, and cannot
be limited to the actual war period.
The current agreement should
likewise be considered as an impor-
tant step toward attaining one of the
major aims set forth in the Atlantic
Charter, drawn up last summer dur
ing the personal conference between
President Roosevelt and Prime Min
lister Winston Churchill. That goal
was a new economic world order
wherein "all states, great or small,
victor or vanquished," should partici-
pate ION equal terms" Obviously,
this can never be attained unless
world economics are conducted on a
level of mutual understanding and
cooperation vastly higher than any
thing previously attempted.
The difficulties Of attainment in
world riven by war and cross-cut by
monetary and tariff barriers, widely
divergent wage and living standards,
competing products and unequally
distributed raw materials, are clearly
enormous. Yet the war itself Is
compelling precisely such co-opera-
ton, regardless of economic theories,
prejudices or vested interests. Take,
for instance, the economic agreement
made last autumn between the
United States and Canada, and the
similar arrangements decided in
principle at the recent American
conference at Rio de Janeiro, and
now being worked out. The extensive
pooling of economic resources and
facilities of every kind, with corre-
lative setting aside of tariff barriers,
cannot be restricted to the wars
duration. Economic ties are being
forged between the entire Western
Hemisphere which assuredly will not
be summarily severed.