Evening star., 1950-06-09

have made. most of the nations
Of Western Europe are still moi
economically self-supporting. II
we were to take away our assist
ance now, they would still be un-
able to pay for all the things
they need to buy from us anC
from other countries. The result
would be sudden drop in living
standards. weakened defenses
and a greater opportunity for the
Communists to move in.
Abandonment Held Disastrous.
That must not happen-it woulc
be disastrous for the Europeans
and for us, too. Instead. we mus
keep on working to build the
sound economic conditions with
out which there can be no secur-
ity or progress for free men.
Our work for this purpose will
be, largely carried on for two more
years under the Marshall Plan
But our vital national interest in
a healthy world economy will moi
end in 1852. It will be just as
necessary then as it is today to
have secure economic foundation
for world peace. This secure
foundation requires not only q
successful recovery from the dew
astation of war. 1t requires the
kind of dynamic progress which
proves that the way of freedom
can satisfy the economic needs of
man.
The economic well-being of
other free nations around the
world is important to Our common
effort for peace. 1t is also impor-
tant to our own economic we'll
being.
$12 Billions Exported.
Last year we exported goods
worth $12 billion-a large part
of them to Europe. These exports
consisted of wheat, cotton, to-
bacco, dried fruits, machine tools.
textiles and many. many other
products of our farms and fac
tories.
II our exports are to continue
at a high level, other countries
must have some means to pay for
them. At the present time, other
countries are selling far less to
the United States than they are
buying from the United States.
Our imports last year were valued
at 81 billion-$5 billion less than
our exports.
OF the SIP billion of our total
exports, the sum of $5 billion was
made possible by the aid which we
furnished under the Marshall
Plan and other foreign-aid pro-
grams These aid programs can
be substantially reduced this year
and in later years. as the recovery
and economic development OF
other nations progresses. OBJ
viously. we do not want to con-
tinue our extraordinary financial
assistance to other countries any
longer than necessary. That is
why we must look ahead to plan
for the changes that will be neces-
sary to assure q high level OF
normal trade and investment
among nations as our aid pro-
grams are reduced.
Natural Changes Expected.
Many Of those changes can be
expected to occur naturally, 4
AS our own economy grows. we
viii naturally import more goods
than we now do; this will add tc
our own standard of living with
out causing any substantial dis
location to our domestic pro.
ducers. At the same time. in
creasing our imports will make
more dollars available to, other
countries with which to buy oul
goods.
In addition to this, as economic
and political conditions become
more stable in other countries, we
should plan to make larger invest
ments abroad. This will be good
business for us. and also will make
more dollars available for pur-
chases here by other countries.
We can also expect more Amer
leans to travel abroad in the
vaors ahood ord the ICl1orS fhey