Evening star., 1954-11-24
Argentina and Cuba
Say U. 5. Should Pay
More 10 Aid Economy
By The Assosiassd Press

QUITANDINHA, Brazil, Nov.
24.-Argentina and Cuba agreed
with other American republics at
the Inter-American Economic
Conference today that the United
States should dig deeper into its
cash boxes to help Latin Ameri-
can economies.
Argentine Commerce Minister
Antonio Cafiero threw the weight
of his government behind a
Chilean proposal for establish
ment Of an inter- American bank.
The United States is opposed to
this idea because it probably
would be asked to assume the
biggest burden of the financing.
Speaking as Cuba'S treasury
secretary, Gustavo Gutierrez
told American officials not to
forget that Latin American ma
tions are the best friends Of the
United States. He urged the
United States to withdraw sup
port from artificial or anti
economic industries" He men
toned particularly subsidies to
beet sugar, which is a serious
competitor of Cuban cane sugar.
So Year Delay Seen.
Carlos Davila, secretary gem
eral of the Organization Of
American States, told the dele
gates they were so years late in
| welding together their econo-
mics.
ut is true that steps taken to
coordinate the economies have
not kept pace with gains in
other fields Of inter-American-
ism," he said. I'VE must step
up the pace /. we are going to
solve these problems like we
solved those involving political,
juridical and military affairs"
One Of the more concrete pro-
grams presented to the confer
ence yesterday was outlined by
Jorge Prat, Chilean Treasury
Minister. His plan called for
creation of an inter-American
fund, drawing its capital from
resources Latin-American ma
tions have cached in foreign
banks. bonds and credits.
The Prat plan promised to be
one of the most hotly debated
proposals before the meeting.
Several nations already have in
dicated their support, notably
Colombia.
Ecuadorian Plan Outlined.
Jaime Debot Velasco, Ecuador's
economy minister, outlined q
10-point program which drew
the attention Of many delegates.
To speed Latin-American de-
velopment, he said his nation
wanted:
!. Just prices which would
have a reasonable relationship"
with prices of manufactured
| goods;
2. Priority for investments in
Latin America;
3. Elimination of double tax
alton;
| 4. Continued regular invest
ments permitting Latin-Amer-
ican expansion;
5. Elimination of restrictions
on loans;
6. international finance or
ganizations willing to expand
credits to private industries;
Z. Technical and economic as
sistance;
| 8. Wider regional trade within
Latin America;
8. Establishment of industrial
structures to shore up the weak
ened economies Of the nations.
10. Creation of Latin Amer
ican payments union to settle
trade debts between the South
and Central American nations.
These 10 points covered most
of the specific proposals made by
other nations.
Other Views Appear.
/ Silvio Gutierrez, Venezuelan
minister of industrial develop
ment, said his nation would in
sist on adequate prices for ex-
ports.
Costa Rica announced the Ave
Central American nations are
organizing their own economic
bloc to deal with their immedi-
ate finance and trade problems
Many delegates praised PERU
Wan Finance Minister Emilio
Guimoye for his plea for eco
nomic solidarity within the
|