Evening star., 1946-12-30

S1itAAtA4V vi lIIlo b6llA
depends the economic health of the
civilized world. Unless it is run
wisely and We'll, there can be no
such thing as durable currency
stablization in the major nations
and no sound international credit
and loan system anywhere on earth.
In other words, the International
Bank is vital and indispensable
cog ir the whole vast scheme of
international cooperation upon
which We are launched.
Considering these facts-and they
are facts-it is easy to understand
why our most distinguished flnan-
cial experts assert, first, that the
presidency of this bank presents
an opportunity for the very greatest
possible public service: second, that
1t is essential to name as president
a first grade man fully equipped
by training, talent and experience;
third. that long delay in naming a
qualified man or failure to name
such. may have very disastrous con-
sequences to the world.
All Make Excuses.
This being their view, one Won
ders why. when the qualified men
WHO point out these things are
themselves approached. they back
away from the opportunity instead
of seizing it, One says his private
commitments" are such as to make
it impossible for him; another, that
the public office he now has IS one
he cannot. with good conscience,
give up another. that he fears his
health will not stand the strain:
another, that he fears" he is too
old: another. with entirely false
modesty. that "better men should
be available"
All agree that Mr.. Never was an
ideal man for the job. that he did
fine work while he was there, and
speculate as to what was really be-
hind his resignation after a brief
six months of service. His reasons
we're not entirely convincing and
one publication emanating from
Washington recently asserted that
there had been a virtual Stalemate
between him and directors over
financial policies.
No reason to believe this has been
given by Mr. Meyer. but it does
give considerable point to the view
of one of the eminentlv qualified
men who greatly deplores Mr.,
Mever's retirement but has great
Discrimination to take the place
hnpn Altered
This man says the great defect
of the international Bank is IN the
makeup of its executive directors.
There is a president at s30,00o
year and there are twelve directors
at $1,000 a year each. But these
directors are not appointed by the
president nor by the influences tnat
appoint the president. Instead, they
are named directly by the twelve
nations interested in the bank.
They are wholly independent of the
president as to appointment, ten
ure of office and pay. In brief,
they have no personal allegiance
to him whatever and he has no
inherent influence over them at
all"
Comparison Shows Flaw.
The difficulties thus presented are
clear. Certainly. it is asserted, no
CORPORATION could be efficiently run
by a board made up along those ,
lines-and no newspaper. Suppose. /
for example. the New York Times
board had for its president Mr..
Arthur Sulzberger and its other
directors representing the Hearst
papers. the Herald Tribune, the
Chicago Tribune, the New York
Daily News. the Baltimore Sun, the
Kansas City Star, the New Repub-
lie. the Nation and the Daily Worker
on there for life and not paid
bv the Times? What kind OF poll
cies would the Times evolve out OF
that setup? How would 1t run?
With board such as now operates
the International Bank, this critic
saws, the only possible way in which .
efficient direction can be obtained
is to have as chairman man OF .
such force, character and person. |
ality that he will not only win the
confidence of the individual dlrec- /
tors but dominate them completely. 7
A second-grade man would be
sure to make a mess of things. Mr..
Never was of the first grade and |
his successor will have to be also .
if the good work of Mr.. Meyer is
not to be lost. Yet, the flrst-grade
men are extremely reluctant.
They talk about the vital need
and deplore delay. but they shrink