Evening star., 1947-09-26
.Export-Import Bank
Loans 10 Tide Over
Europe Suggested
BY the Assoeietsd Press


port Bank, with some $500 900 900
in its till, took on new import
ance today in the hunt for
emergency aid to Europe short
of a special session of Congress
Perhaps significantly there was
increasing talk both within the ad-
f, ministration and on Capitol Hill of
{. making use of the multi billion
COLLAR lending agency set up 13 years
ego for the express purpose of stim-
nlating American commerce.
While emphasizing that a de-
clslon Is yet to be reached, some
top level administration officials
said the idea may be broached for
nlally at the conference President
Truman has arranged with Repub-
llcan and Democratic congressional
leaders next Monday.
Food Only Answer to Crisis.
; Mr.. Truman told reporters yes
terday he would prefer to find a way
OF helping friendly European coun-
tries meet their dollar crisis without
calling the lawmakers back into ses-
sion this fall But he added that
he still is open minded on the sub
ject.
The Chief Executive offered his
comment in connection with lis
call for, Americans TO waste less
food in order to nelp meet the eX-
tremely grave food situation abroad
But the President left no doubt
that he considers food alone the only
answer to the crisis confronting
parts of Europe before the 16-nation
Marshall recovery program can be
put in effect sometime next year
In separate statement taking
note of the initial report drafted at
Paris by the Marshall plan confer
ence, Mr.. Truman said he called
. the Monday meeting because Ger
tain problems have arisen = that
. are of such an urgent nature that
their solution cannot await" a deci-
sion on the long-range self-help
program.
Marshall Praises Work.
Meanwhile Secretary of State
Marshall praised the European
Marshall plan" nations today for
their intensive work" and CO.
operation in drafting the joint
economic recovery program.
The cabinet officer avoided any
comment on the merit OF the pro-
posals which call for $22 400 O00, 900
in outside aid but said:
The fact that 16 nations have
worked in such close cooperation
to produce the report is an i'm
portant accomplishment"
Gen. Marshall added that the
United States expects to consult
with representatives of the various
governments to obtain whatever
supplementary information may be
necessary.
The Secretary made these re-
marks in a letter to the Commit
tee OF European Economic Cooper
alton which sat in Paris for more
than two months to draw up the
"self-help" plan he envisioned in
his June 5 speech at Harvard Uni
versity
Martin Adheres to Policy.
The Export Import Bank has
loaned some $2,700,000, 1000 to Euro
pean, Latin American and Asiatic
countries, but 18 months ago laid
down policy that henceforth it
would extend no more credits unless
they were tied directly with aiding
American commerce.
Bank President William McChes-
ney Martin outlined that policy
during a congressional committee
appearance last year and has ad-
hered to it rigidly. Prior to that
appearance the bank, with informal
congressional assent, had stretched
its charter terms in making num-
Der of recovery" loans.
Those in the administration who
see the export import institution
as short cut in the current crisis
say they believe that if Mr.. Truman
could win permission" of the con-
gressional leaders for a return to
that policy, Mr.. Martin would relent
in his firm stand against stopgap
credits. Mr.. Martin currently is on
European inspection trip and Is
not scheduled to return to Wash
ington until early November.
Senator Brewster, Republican, of
Maine, although he is not among
those invited to the Monday confer
ence, took a position similar to that
of the administration advisers in a
separate interview.
Brewster Mentions Bank Loan.
Predicting that the leaders will
turn a cold shoulder to the idea of
a special session, Senator Brewster
said he thinks Europes immediate
needs might be met through such
temporary measures" as an Export
Import Bank loan.
Such action would not be a vio-
lation of the law, but a change of
policy" the Maine Republican
added. "It might be close to the
line of congressional intent"
Several other lawmakers also have
mentioned the bank in recent weeks.
There we're fresh indications,
meanwhile, of the seriousness with
which Paris and Rome view the
situation.
A French Foreign Ministry
spokesman said last night his coun-
try's dollar resources will be ex-
hausted within a month and unless
American aid Is forthcoming in
October France will have to halt
her vitality important imports of
wheat, coal and fats from the
United States.
At the same time Italy was dis
closed to have made its fourth ap-
peal for help in II days with a
call by Ambassador Alberto Tar
chiani on Assistant Secretary OF
State Norman Armour two days ago
Lack of Details a Handicap.
In still another development, a
spokesman for President Truman :
19-man Foreign Aid Committee un-
derscored the difficulties confront
ing the administration in relating
the Paris Marshall plan report to
a concrete aid proposal for Con-
gress,
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