Evening star., 1947-05-15
Wallace Urges Outlay
|N | 50 Billion IN !. ).
investments Abroad
" ne Asseeiufsd Prsss

uHhJ
By ihs Asseeiufsd prsss
n CHICAGO, May l5.--A $3.50, ,000,-
.00o, 900 program Of American exports
and investments throughout the
world is proposed BY Henry A.
Wallace. who says the only hope
for peace IS 1 major effort TO re-
store the world economy BY the
use Of American resources
The former vice President, speak
ing at i rally at the Chicago Sta
dunn last night. said the Truman
doctrine may not lead to war, but it
will never lead to peace.
The one and only road 10 peace
Is q program Of action based on a
priority not Of political reliability
but Of human needs.
Overflow Crowd Cheers Him.
Mr.. Wallace was greeted with
cheers by the crowd which packed
the stadium, which has q seating
.capacity Of more than 10000. Many
at the rally, for which admission
prices ranged from so cents to $2.40,
Joined In shouting wallace for 48"
when he was introduced.
At the Democratic National Con-
vention held In the stadium In 1914
Mr.. Wallaces bid for denomination
as Vice President was turned down
| In favor OF President Truman, then
q Senator from Missouri Mention
| OF President Trumar's name by
speakers at the rally was greeted
with some booing. Other speakers
included r. ]. Thomas, vice pres
ident OF the CIo- United Auto
Workers, and singer Paul Robeson.
Mr.. Wallace, who said athe ad-
ministration is playing politics with
the misery of Europe defined the
Truman doctrine" as "a curious
mixture of power politics and inter-
national carpet bagging,' and .
doctrine of unlimited aid to anti
Soviet governments" He added, II
predict that one day we shall bit-
terly regret the action that Con-
gress has taken"
Outlines Program for World.
He said the program he advocated
'is the constructive alternative to
the Truman doctrine. It approaches
the needs of the world frem q
standpoint of all humanity. 1t set
these goals:
ITO restore living standards In
Europe and Asia to prewar levels
that means investment Of 5000.
0o0, 900 a year by America for five
years; to raise living standards Of
Eastern Europe to those Of Western
Europe-that means investment OF
S. 900 600, 600 q year by America
| for Ave years.
"A further goal, for the world
to set and reach, is the raising Of
the living standards OF Asia to
present European levels. That will
require $4,000, 600 600 of American
exports annually later on, and for
10 years
Progressive Program Killed.
Mr.. Wallace, speaking Of his re-
cent trip to Europe, said, II found
only one group-the group Of ex-
ltreme right wingers led by Winston
Churchill--wf1o were ready to de-
fend the Truman doctrine"
He said that every "forward-look-
ing program" presented by the adj
ministration had been killed or
buried" by bipartisan bloc in Con-
Igress.
'Ifethe Democratic sFasty betrays
Hts responsibility to fhe' people, he
said, "the people will have to flnd
Eother means of political expression. !"
|. Praises Roosevelt Leadership.
r Under the leadership OF President
Roosevelt, Mr.. Wallace said, Amer
ica faced the future with the cour-
age and confidence that the future
Required.
"The Government looked at the
problems of postwar America and
EcalIed for an economic bill Of rights
Today the economic bill Of rights Is
dead, Just as the United Nations
Relief and Rehabilitation Admins
tration is dead. They were killed
lin the same way.
"They were killed by another spirit
in America--the spirit OF meanness
and selfishness and shortsightedness
and fear. This spirit Is betrayal
Of every principle for which We
fought in war"
The automobile industry consumes
l18 per cent of the American steel
output, or more than the Nations
| railroad. fIse