Evening star., 1943-11-07

| Europeans had to sell to him, or COL
lapse for lack of markets They became
Hitler's first bagged pigeons. Their cap
ture helped build Germany's legend of
| invincibility. Any warmaker could do
it again.
The huge grain surpluses also meant
millions of unemployed agricultural
workers. Poland alone had 100000.
Diversified agriculture would help 1t
takes more men to tend beans than
wheat.
The S64 Question.
That leads to the S64 question for
Europe: Must Central Europe go on
being the bread basket and Germany
the Pittsburgh?
It's never been an even swap between
farmers and factory workers. The fac
tory man seems to get more for his labor
Look at our own struggles in the 30's
(the slaughtered pigs and the AAA) to
even the difference between New York
and the Western wheat fields
The result is: Central Europe needs
factories to process some of its own
needs. This must be recognized by the
men who direct postwar food produc-
ton. Will they help Central Europe to
diversity crops? Will the men who okay
loans for reconstruction help Central
Europe to put up factories? What be-
comes of Germany's manufacturing
dominance?
In Washington it's believed there will
be some Government direction, maybe
only advice" on where the reconstruct
ton loans go. In Wall Street, I'm told
little private money will go to Europe
again. Instead, it's looking to South
America.
I've seen one concrete plan for in
naturalization in Poland suggested by
their trade commission in New York
Poland has coal fields, Some of her
economists would like a loan for a
hydrogenization plant to turn that coal
into oil.
The Polish economists believe the new
industry would employ a million of the
hitherto unemployed farm workers. And
Poland would get better return from
her manufactured oil than she does for
Impressed coal.
Seeks Sterilization Fund.
The second United Nations step is
concerned with a sterilization fund.
The United States Treasury announce
ment states the purpose this way:
The United Nations recognize the
need for the fullest cooperation among
nations with the object of securing
economic advancement and rising
standards of living for all"
The fund advocates hope to fix the
relationships between the currencies we
all use so Italian Ira will always swap
for about the same amount of American
money. So British pounds will always
buy about the same number of Chilean
pesos
That wasn't true between thess two
world wars.
AS the nations slid into the depres-
sion their moneys rose and fell. It
added just one more difficulty to trade
between nations. 1t was one more factor
in dropping production and long lines
of men out Of jobs
The fund is planned to buy and sell
currencies. 1t will be a huge kitty
some five to eight billion. Well all kick
in paying partly in gold, partly in cur
rency.
That should mean for us the gold
under Fort Knox will be less of
dead duck Gold will be needed, and
a commodity which Is needed has a
price
Then, there's the United Nations
bank. The United States Treasury an
nouncement says it will capitalize at
about 10 billion. Talk in Washing
ton says we'll probably ante in for
two billion. That need be no gift The
bank will deal in securities, and the
Treasury announcement says, Profits
will be distributed in proportion to
shares held"
Seeks Long Term Capital.
The proposed bank would encourage
private financial agencies to provide
long-term capital for the sound de-
velopment Of the productive resources
of member countries-the bank may
guarantee loans made with private capt.
tai to any member government, and
through the government to any political
subdivision, and to business and indus
trial enterprises in the member country"
The fund and the bank, taken to-
gether, can mean something for us
I've checked this in both New York
and Washington. The costs of wiping
out the war scars will be divided pro-
portionately among the United Nations.
And if the plans work, the actual costs
and work will be handled by each
nation.
The Dutch government can go to the
world bank to rebuild Rotterdam.
(See FORGOTTEN, Page C-3D