Evening star., 1961-02-06

will not profit in this manner.
III. MEASURES TO COR
RECT THE BASIC PAY
ENTS DEFICIT AND
ACHIEVE LONGER-TERM
EQUILIBRIUM.
1. Action by the Senate to
approve the Organization for
Economic Cooperation and De-
velOpment.
I earnestly request early &C
ton by the Senate approving
United States membership in
the Organization for Economic
Cooperation and Development.
The DECD. in which the indus
trialized countries Of Western
Europe, the United States and
Canada will be. joined, Is Of
vital Importance for assisting,
on q cooperative basis, the de-
lvelcping couitries Of the free
world. It will also provide q
solid framework within which
I've can carry out intensive and
frequent International consul
tations on the financial and
monetary policies which must
be pursued In order to achieve
and maintain better balance in
the international payments
position.
2. Export Promotion.
The Department of Com
merce will provide energetic
leadership to American indus
try In q drive to develop export
markets. Firms and industries
will be encouraged to step up
their efforts to develop exports
and given every assistance in
doing so. At American indus
try comes to realize the vital
role Of export earnings for our
foreign policy. I have little
doubt Of its response.
We will promptly increase
our commercial representatives
and facilities abroad. This Is
a joint program Of the Depart
ments Of Commerce and State
which must proceed with drive
and conviction in order to pro-
duce effective results. The
budget which has already gone
to Congress requests 81, $50, 900
for the State Department to
add II Foreign Service COM
mercial attaches overseas, to-
gether with 48 experienced
foreign nationals and support
ing American staff.
The new budget requests will
also allow an increase in
overseas commercial facilities.
The Commerce Department is
doubling Its trade mission pro-
gram from II to 18 per year
and viii provide more useful
information to our overseas
posts. I am ordering rapid
completion Of our two new
foreign trade centers at Lon
don and Bangkok and have
requested the departments to
explore whether three more
could be added next year in
Africa. Latin America and
Europe.
3. Cost and Price StabiIIza- =
tiOn
Our export promotion ef-
forts, no matter how well de-
vised or energetically pursued.
will not be effective unless
American goods are competi-
lively priced. Our domestic
policies-of Government, Of
business and labor-must be
directed to maintaining COM
petitive costs, improving pro-
ductivity and stabilizing or
where possible lowering prices.
Measures to achieve these ends
which are important for the
domestic economy are even
more vital for our interna-
tional competitive position. ]
have already stated my inten-
ton of creating an Advisory
Committee on Labor and Man
agement Policy to encourage
productivity gains, advance au-
tomation and encourage sound
wage policies and price stability.
| 4. Export Guarantees and
Financing
Our Export Import Bank
must play an increasingly i'm
portant role in our export pro-
motion efforts. Last year the
Export-Import Bank an
nounced a widening Of the IA
cilities which it offers for ex-
tending credit to American ex-
porters. Despite the improve
mentS made, these facilities
are not yet adequate, nor are
they comparable to those of.
fered by foreign countries, es.
pecially those offered to small
:. and medium-sized exportine
; concerns and those offered fol
the financing Of consumer
goods. I am directing the pres.
ident Of the Export = 1mport
. Bank. by April /, to prepare
and submit to the Secretary oi
the Treasury, as chairman ol
the National Advisory Council
) on international Monetary anc
: Financial Problems, a new
program under the Export.
= Import Bank to place our ex.
. porters on a basis of full equal.
, ity with their competitors ir
other countries. Also, I have
= asked the Secretary of tn,
Treasury to initiate and sub.
NIT by the same date a STUDY
Of methods through which pri,
, vate financial institutions car
! participate more broadly IL
y providing export credit facili
ties.
5. Foreign Travel to tn
: United States
!. Foreign travel to the Unitet
States constitutes a large 20
tential market hitherto virtu
ally untapped. American trav
c elers annually spend some s.
: billion in foreign countries