Evening star., 1947-09-04
Bevin Gives More
Details to Visiting
U. S. Legislators
U. S. TREASURY officials express
surprise at gold proposal.
Page Al
BY the Asseeiotsd Press

Page Al
BY the Asseeiotsd Press
LONDON, Sept. Am authori-
tative American source said to-
day that Foreign Secretary
Bevin's proposal for redistribu-
ton Of the Fort Knox gold was,
in the British view, to be an in
tegral part of the Marshall Plan
for aiding European economic
recovery.
The informant said Mr.. Bevin
had made the suggestion informally
in an exchange with United States
Ambassador Lewis w. Douglas
before announcing it publicly
yesterday at the Trades Union
Congress in Southport.
In the course of a 70-minute talk
today with American Congress
members who are investigating
economic conditions in Britain and
Western Europe, the Foreign Secre-
tary gave several more details OF
his proposal, this source added.
Received "SkepticaIly."
Mr.. Bevin's elucidation Of his
proposal for redistributing American
gold stocks came in answer to a
question from one of the Congress
members and the informant said
the Foreign Secretary made these
points:
His proposal had the backing OF
the British government.
He believed it was unhealthy and
unsound economics, out Of harmony
with the principles of multilateral
trade which the United States her
self was urging. for one country
to hold most of the worlds gold
stocks and not use them.
There would be no lasting settle
ment of Europe'S economic Difficult
ties If continental recovery was to
depend on never ending United
States loans.
Gold could become the basis OF
world currency systems and every
nation should have access to it.
The informant said Mr.. Bevin's
elucidation of his proposal was re-
ceived somewhat skeptically" by
Congress members.
One member of the delegation
said "it just doesn't make sense"
Ambassador Douglas introduced
the legislators to the Foreign Secre-
tary.
Questioned by Congress Members.
Mr.. Bevin reviewed the whole
world situation for the Congress
members. who fired series Of ques-
tions at him. Later Mr.. Bevin was
to attend a meeting of the cabinet.
The informant said it was likely
new diplomatic exchanges would
take place between the Foreign Of
fee and the State Department on
the subject of Mr.. Bevin's gold plan
Ambassador Douglas was under
stood to be cabling details OF Mr
Bevins remarks to washington.
Few of the American Legislators
who saw the Foreign Secretary this
morning would disclose details OF
the meeting.
When asked how Mr.. Bevin eluci-
dated his gold proposal several said
they were unable to answer because
they had not read his speech.
The American informant said Mr.
Bevin's second proposal to the
Trades Union Congress yesterday
his call for an empire customs
union-was not discussed at today's
meeting.
Later the 18-member special
Congressional Committee on For
eien Aid left London today by all
for Berlin on the second stage OF an
inquiry into methods OF implement
ing the Marshall plan.
A British Treasury spokesman de-
MED today reports published in Lon
don that Britain had asked the
United States for a new credit OF
$1,000, 100000.
The reports said the request was
made by Sir Wilfrid Easy, treasury
expert who returned recently from
washington.
Little Value Seen.
Britain, for the most part, re.
ceived the Bevin plan for redistribu'
ton of gold placidly.
Only the Financial Times gave II
headlines or editorial comment
and that paper, which usually re-
fleets the London financial view
point dismissed the idea as one o.
"littIe practical value"
Even Mr.. Bevin should not be 81
naive as to imagine that the dollal
shortage can be resolved by simple
7See BEVIN, Page A-4D