The Wyandotte news-herald. (Wyandotte, Mich.) 1943-1963, 1945-03-29
Breton Woods -
A Step to Lasting Peace

The fate of international Securlty-the
possibility of any international security or
eanization coming into being IN our lie
fime-may be decided within the next lew
days.
The Congress is now debating the
r-Tobey-Spence Bill which ratifieS
the Breton Woods Agreements. To most
of the public, this is merely an economic is
sue, too complex to be understood, and re-
mote from the cause of international agree
ment. This as total misconceptlon, and
very dangerous one. The Breton WOODS
Agreements are complex because they solve
a vast and complicated problem. However,
the average citizen can understand their
two primary points
u Breton Woods proposes to set up
Bank. This Bank will guarantee loans made
by private investors to nations which need
money for constructive and peaceful pur-
poses The Bank will guarantee such loans
in very much the same way as the United
States government guarantee loan from
private bank to householder, under FILA.
y Breton Woods proposes to set up
fund This is what might be called an IN
ternational kitty. 1t provides moneys which
can be used by nations whose credit is weak
through lack of sufficient monetary re-
serve This use of the fund makes 1t un-
necessary for those nations to depreclate
their currency or dump their goods, and
thus eliminates one of the chief causes of
initiation and renders obsolete one of the
most dangerous weapons Of economic war
fare.
But the most important aspect of Bret
ton Woods is not the economic one It's most
important aspect is its bearing on world
Security-on the fact that the San Fran
cisco Conference will meet on April 25.
If Congress passes the bill before that
date, great impetus will have been given
to the success of the Dumbarton Oaks pro-
poSalS or any other plan for world security.
If Congress fails to pass the bill, the United
States will again, as in 1920, appear in the
eyes of the world to be withdrawing from
international responsibility
The opponents of Breton Woods are
doing very shrewd thing. They are not
openly opposing it. Rather are they Sniping
at small details of the Agreements. They
are doing this in the full knowledge that
if our Congress amends any part of Breton
Woods then the whole agreement will have
to go back for further conferences among
the nations, and delay of as much as two
years will have been effected by the isola-
tioniStS. That two year delay should be all
they need to kill the possibility of world
cooperation In our time.
1t took three years to write Breton
Woods, three years of preliminary meet
ingS, and then the final meeting at which
the document was agreed upon. Those three
years were filled with the careful though
of some of the worlds greatest economists;
with carefully worked out compromises
among nations whose special interests were
in conflict. If Breton Woods is not perfect
today let's remember that neither was the
, Constitution of the United States when it
was first accepted by the states. But, just as
the Constitution provided machinery for
amendment, so does Breton Woods
If you believe in the cause of world
organization, whether it be Dumbarton Oaks
or some other variety, use all your influence
to urge the passage of Breton Woods with
out change. Urge all who hear or read your
words to wire their Congressman and their
Senators, demanding passage of Breton
Woods as it stands
You could not Strike-at this moment
"a more effective blow for lasting peace.