Chancellor's Warning

Chronicle (Levin), 18 June 1949, Page 5

Chancellor's Warning

Received Fridav. 9.30 p m. LONDON. .Tune 17. The vast relinnce TFitain still liad to place on gifts and loans of dollar-s

from the Fnited States and Canada de monstrated how far Britain was from solving the problem of the balance of trade and pavments with North Ameri ea, said Sir 'Stafford Cripps, speakin.r at a Pilgrims Society dinner. He added: "Nor do our problems appear to be growing less. Tndeed tliev are becoming temnorarilv greater as the gap tends to widen again, due to the ehanging eeonomic conditions as we emerge from the period of acute world shoit ages into a less inflationary situation. "Europe still needs Marshall Aid on a scale that will enable it to maintain dollar imports essential for its recnverv over the period of the aid pro gramme. Eeeoverv itself is not enough We mnst not onlv recover our pre-wa-position, but mnst greatly improve p>\war production and productivitv in Europe if we are to be able to suppo-t our growing populations and match our prod'Wivitv with Xorth America. Thi« matching of our production is essentiai if we nro to reach a stable and lasting balance." I All the forces of the West — political. militarv and eeonomic — mnst be com bined to save western civilisation and mahe the whole world a decent and safe place tp live in. said Mr Thoma-' Finletter, Marshall Plan Adiministratoin Britain. speaking at the Anglo-Am erican Pilgrims' Society Dinner. Ilt added that the challenge to western t civilisation could not be handled by anv one nation alone. The wisdom and character of the west, and in particular of Britain and the Fniled Rtates, were needed to sur mount tlie challenge. The Marshall Plan was the west's immeidate and most important contribution to the eeonomic side of the grand policy which the West miTst adopt. 'The first move in this policy mnst be a large ineasure of nnification of the West in all fields. "Tf we all remain separate we will be pickod off one by one, and rather soon at that. ' ' Mr Finletter said that useless and irritating barriers to the free movement of goods, vehicles, currencv and persons should be done awav with immediately. "The Marshall Plan working in concert with the Atlantic Pact and the militarv programme of tlie major countries on both sides of the Atlantic is creating a solid Atlantic community which wp must believe will work out the survival of society in this dreadfullv dangerous age. "