The Waterbury Democrat., 1943-04-02
nv CHARLES B. DEGOEs

SNNaAMWAsAa0
 Limited Press Stan C0rreSp0ndent)
 Washington, April 2--tuP-Sec- retary of the Treasury Henry Nor genthau, Jr,, will present to an ex- traordinary joint session of threC Senate committees next Monday Q fourspolnt tentative plan for post. war international currency stabillxa- ton.
 It was also learned from treasury sources that all Latin American nations except Argentina have been invited to participate with the United Nations in Washington con- ferenccs on Q final stabillEatlon program to which all the conferring countries would bo parties.
 The tentative proposals, to be presented to tho senate's finance, foreign relations and special post war planning committees, will bc based on these principals:
 1, Provision for orderly adjust ment of currency values that may be necessitated by basic changes in the economic and monetary posi-. ton of some countries after the war,
 2. Freeing tho balance of pay mentS of q number of countries from pressures they can not bear.
 3. Provision of machinery for maintenance of stable exchange rates while nations adjust them selves to changes in thsir interna- htAvaal aaAe.ANRata vARoihkAvH
 {. Provision of a mechanism un- der which exchange rates changes can be effected by multi-lateral in- ternationul agreements.
 Treasury officials have hssen working with state department and other government agency officials for Q year on post-war stabiliza- ton plan. But Morgenthau insists that there is no plan" as such. and prefers to call American sugges- tons, "proposals."
 Apparently the United States strategy is to present its plan" in the form of proposals for consider. atlon of United Nations financial ministers in conferences here. so that if and when agreement Is reached. the result can be called Q United Nations Plan" for post-war currency stahilization.
 When Morgenthau appears kefore the, senate committees, he is expect cd also to lay the ground work for his future request that the eX- change Stabilization fund of $2.- 100000. 900 and the presidents pow CT to devalue the dollar be extend. cd for two years beyond June 30. It was disclosed authoritiatively in this connection. that the administration does not now contemplate further devaluation below the present 69 per cent gold content.
 Although Morgenthau revealed that he would present stabilization proposals to the three Senate com- mittees next Monday, both Chair man Walter r. George, D., Ga. of the finance committee and chair man Tom Connally, D., Tex, of the foreign relations committee denied that they had scheduled a confer ence next week with Morgenthau. George also is chairman of the spe- cIaI post-war committee.
 George, however, lunched with the president yesterday and then called a special secret meeting of the Deii- ocFatic members of his finance com. mittee.
 Meanwhile, these details of the American proposals were learned:
 They will be based on the admis- sion that success in international stabilization efforts can be success- fuI only if the United States leads In active participation. The treasury believes th. dollar will be the cor- nerstone of pOgt-war stable curren- cies kecause the United States holds most of the worlds gold and foreign exchange.
 It Is held by some treasury off- ciaIs-.and Morgentnau Is expected to say SO to the congressional coEl- mittees- s--tha, the success of any monetary agencies the United States helps establish will depend upon correct domestic policies in the posts war era. Prominent among these. the treasury places elimination Of unemployment.
 The treasury believes orderly ad- ilstinent" of currency vaiues-its first principle must be written lr- to the final plan # the catastFophic monetary experiences of 1920 and iea0 are to be avoided. It will argue that only by . sane adjustment Of exchange rates under new economic couAatlona can 6 base for world krada and pronpaflky bo built, It will Wafn. however, thal competitive de- IAtI1n og ellEkanclca among nA-