The Waterbury Democrat., 1945-01-15

RNann gram that shapes
 up about like this:
 One - Stabilize foreign exchange through the operation of the inter national monetary fund proposed at Breton Woods.
 Two - Facilitate the free flow of world capital for investment through the International Bank for reconstruction and development, likewise proposed at Breton Woods. This would be supplemented by en- larging the activities of the Export Import bank, now completing its 10th year of successful operation. END TRADE RESTRICTIONS
 Three - Remove government bar riers to the free flow of trade. This would be sought through the eXten- sion of Cordell Hull's pet Reciprocal Trade Agreements program via the reduction of import tariffs, through progressive elimination of export embargos and quotas.
 Four - Remove private barriers to the free flow of trade. This is Spe- officially the anti-cartel policy, dear to the administrations heart for so long a time. It involves restrictions on any agreement between private business interests which tend to make any commodity less plentiful and higher priced than it would be otherwise.
 Five Put a floor under mass purchasing power, so as to increase the consumption of goods as stim- uluS to trade. Unlimited competi- tion as encouraged in the first four poitns of this program would lead to ruinous price cutting and re- duced standards of living through out the world. The approach to off setting this trend would be made through the International Labor office, a 25-year-old holdover from the League of Nations, which through international agreement seeks to raise the standards of wages, working conditions, health and social security.
 Six - Make commodity agree ments with other governments to reduce the production of those raw materials which are in chronic Sur- plus This would apply particularly to the So-called 'monoculture" countries those whose economy depends to such large extent upon one product - sugar in Cuba, coffee in Brazil, rubber in the Netherlands East Indies, etc. The effort would be made to shift these countries to the production of other commodities in shorter supply It would be done through individual commodity and rubber agreements now in the process of negotiations or ratifica- tion, and through the International Food and Agriculture Organization set up at Hot Springs.
 POINTS DEVELOPED
 SINCE AZ
 There is nothing particularly new about any one of these half-dozen points. Each has been developing gradually over the past two years or more. But taken together they present a complete American-For eign economic policy, it's various parts doVetailing to make one piece. Assitant Secretary of State Dean Acheson presented general round- up of this program in his testimony before Congressman William M Cclmer's House Post-War Planning Committee, but Acheson has now been shifted to other duties and the whole field of economic policy has been dumped into the lap of the new Assistant Secretary of State Will Clayton.
 Most New Dealers are now re- conciled to Clayton They are glad he isn't handling labor problems, but on international trade develop ment, they think he will be hot stuff. It is noteworthy that there is a specific organization already proposed or actually set up to deal with all but the 3rd and 4th pro- gram outlined above. These might be left to the economic and social counsel in the United Nations or ganization proposed at Dumbarton Oaks.