Evening star. [volume] (Washington, D.C.) 1854-1972, 1945-12-28
29 Nations Approve
International Bank;
Russia Still Silent
BY JOSEPH n. BAIRD.

naCl0nal bank ana 1nternat1Ona
monetary fund provided for al
the Breton Woods Conference
were realities today. But there
still remained unanswered the
question of whether Soviet Rus
STA, third largest subscriber tc
the two pools, would enter them
These institutions, designed tc
strengthen the worlds financial
structure and aid in the rehabili-
tation of war-torn countries, came
into being late yesterday when the
Breton Woods protocols were signed
at the State Department by % OF
the As nations which drafted them
in July, 1914.
A 29th signature was added last
night by Ambassador Vladimir Hur-
ban of CZechoslovakia. He had beer
too i'll to attend the ceremony.
Plan Oversubscribed.
Under the Breton Woods agree.
ment, the $1,000, 100000 bank anc
$8,000,000,0 900 fund were to become
operative when nations subscribing
: IS per cent of their total capital hac
!. ratified it. This percentage totalec
: SIS ,9l5 100000 for the bank and S..
!, 72O,0o0,000 for the fund. Yesterday.
J signatures assured considerably
more than this IS per cent, accord.
Ing to the State Department.
!. Officials here did not know toda,
I whether Russia, whose quota for tn,
two funds totals $4,000, 000,O 900, woulc
take advantage of the Charter pro.
vision enabling 1t to become an orig.
inal member If it signs by mex
Monday night. After that date
Russia must be approved by the
Board of Governors of each agency
in order to enter it.
r. There has been some speculation
to the effect that Moscow is irked
over the cool reception here to Its
informal bids for an American loan
and may not join the bank and
= fund until that is promised. This
report, however, lacks any official
confirmation
Largest Amounts Listed.
Aside from Russia, the three
largest total subscriptions to the
bank and fund come from nations
which signed the protocols yester-
day. They, and the amounts sub
-scribed, are: United States, $685.
100000; Great Britain, s2,60O,000,-
900; China, $1.150,000,0o0, and
France, $9O0OOO,00O.
Signatories of the protocols, in ad-
dition to the United States, Great
Britain, China and France, were:
Belgium, Bolivia, Brazil, Canada
Colombia, Costa Rica, Czechoslo-
vakia, Ecuador, Egypt. Ethiopia,
Greece, Guatemala, Honduras, Ice
land, India, Iraq, Luxembourg, the
Netherlands, Norway, Paraguay,
Philippine Commonwealth, Poland,
Union of South Africa, Uruguay and
Yugoslavia.
The ceremonies were held late
yesterday in the State Department
conference room. Under the glare of
Kleig lights and to the accompani-
ment of grinding moving picture
cameras, each envoy of the subscrib-
Ing countries, which were called
alphabetically, moved to the center
OF the room where two documents
bound in blue morocco were laid
out on a large table. One was the
bank agreement, the other that set
ting up the sterilization fund.
Two young State Department off,
Gals presided over the documents
and handed each envoy a freshly
linked pen as he took his seat to
aftlx his countrys signature.
Secretary of the Treasury Vinson
signed for the United States; the
Earl of Halifax, the British Ambas-
sador, for the United Kingdom;
Ambassador Wei Tao-ming for
China, and Ambassador Henri Bon
net for France. Plenipotentiaries
for the other nations were the reg
ular ENJOYS in Washington.
When the name of Denmark was
reached, Minister Henrik de Kauff-
mann arose to say Jilat his govern
ment intended to sign the agree
ments, but had not been assigned a
quota. At the time of the Breton
Woods conference Denmark still
was occupied by the Germans.
- Morgenthau Introduced.
81 AT the conclusion of the cere-
monies, Undersecretary of State
Dean Acheson. who presided, intro
duced former Secretary of the Treas
ury Henry Morgenthau who headed
the American delegation at Breton
Woods and was largely instrumental
in originating the Bank and Fund.
This is a very happy occasion, ="
Mr.. Morgenthau said. It feel that
this IS a new step into international
finance which cannot help but bring
about better business conditions in
the world"
: Secretary Vinson then spoke
briefly, reminding the assembly that
-four long years of intensive work"
%%flad gone into the creation of these
two new international institutions.
=. THE Government of the United
States" he said, lis resolved-as, 1
am sure, are the other governments
represented hereto do all in its
power to make these institutions an
outstanding example of the results
than can be accomplished by the
United action of those who want
and are willing to work for peace
ful and prosperous world"
. The next practical step to be tax
en- by the signatories of the Bank
and Fund protocols is to name repre-
sentatives to their Board of Gov
ernors. The United States, as the
largest subscriber to the two insti-
tutions, will call the first meeting of
the two boards. So far, no date for
this has been fixed.
Evidence Clears Roosevelt