Evening star., 1947-11-08
Aid to Europe Vital to Us
Senator Tydngs Views 1t Essential the Prosperity
and Military Security of the United States
Senator Miard E. Tydinas


tinue on large scale. in our own selfish in
terests.
so aid to Western Europe tends toward world
security, and it could and should mean substan-
tial tax reduction eventually for the people of
the United States-tax reduction for a long
period of time, too
II we decide to aid Western Europe, how can
we do so without injuring our own economy?
We have the right-within reasonable politi
cal and economic tolerances-to ask and expect
that any aided country do all it can to help it
self before our own people are called upon to
bear this burden. Perhaps we should require
. borrowing nation to reach annually certain
minimum production level as q condition to
further continuing basic aid as differentiated
from emergency aid.
Since European nations have not now the
dollars to pay for our aid, we might explore the
feasibility of accepting-at least in part-pay-
ment to us for our aid In the currency of the
aided nation.
For example, if France needs 500 900 900
worth of flour, our banks could make loans to
the individual French millers with which to
buy the wheat from us When the wheat had
been transformed into -four and sold by the
milers to the French people, the French nillers
would pay back the loan to the American
not pay in dollars. Our Government would
then pay off, in dollars, the loan to the Amer
ican bankers and would keep the French money
in our Treasury. Thus we would have in our
Treasury foreign currency for such transactions,
instead of a lot of foreign 1OUs.
OF course, there would have to be safeguards
thrown around such a method so as not to
upset the currency or economy Of France.
An American businessman desiring to do
business In France could, with his own dollars,
buy from our Government some of these
francs at an agreed rate of exchange. With
them he could make payments in France for
services or goods. Other methods for using
these francs instead of our Treasury dollars
could also be found. Thus dollars would grad
ually replace French francs in our Treasury
and our Government would get its money back
only suggest and do not advocate this
policy Even at casual glance, it Is apparent
that 1t is fraught with disadvantages as we'll as
ADVANTAGES do believe it worthy of expora-
ton.
Our Welfare Involved.
At any rate, whatever form our aid takes
we must face up to the fact that 1t is vital to
our own welfare, quite aside from humanitarian
considerations which inevitably enter in, and
which I have purposely not stressed In these
articles.
AS 7 see the picture, aid to Europe now is
economy for us in the long run. It certainly
means more security for our people in world
that is as yet far, very far, from being secure.
The last war cost us four hundred billions
of dollars. That was the initial cost only. The
continuing cost in pensions and aid to disabled
veterans and the like will soar into many bill
lions more 1t cost us dearly in loss of life
and expenditure of our natural resources. We
must seize every opportunity we can to fore
stall the outbreak of another great war. Aid
to Europe now will certainly strengthen the
security of the world and our own security
along with it. 1t ought to mean less internal
expenditure for us, such as for national defense,
through the coming years.
Thus our own interests are served by aiding
in the rehabilitation of Europe. Indeed, we
cannot afford not to do So