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HAMA TRUMAN NARA UBRAN
The Committee for the Marshall Plan to aid European Recovery has noted
the statement submitted by former President Herbert Hoover to the Senate
Committee on Foreign Relations.
It is our considered view that Mr. Hoover's proposal is essentially a
proposal for European relief, not European recovery.
We have recently issued a statement outlining four essentials of the
European Recovery Program. Mr. Hoover's proposal contravenes these
essentials.
The first essential is prompt aid. Mr. Hoover makes no mention of this.
The second essential is Aid which will do the whole job. Mr. Hoover opposes
the adoption of a 42 year authorization; Mr. Hoover appears to oppose the
first requisite appropriation of $6.8 billion.
Recovery requires planning and the undertaking of long-term projects.
European countries cannot do this unless they can have confidence in our
readiness to carry through to success.
Recovery requires a major effort at the start. The President's recommends-
tion of a $6.8 billion is based on painstaking review of the original pro-
posal of the European countries. It covers & program that can be handled.
Mr. Hoover's proposed revisions are not needed and would postpone or ruin
the chances of Europeen Recovery.
The third essential is Aid based on mutual respect and honor. Mr. Hoover's
proposals are ones that the United States would be forced to reject if we
were in need of aid. He proposes that the United States Government buy
large equities in European enterprises with local currency and apparently,
operate those enterprises. He proposes that we review the social policies
of the participating nations. Interference of this character will lead to
failure.
The fourth essential is Aid that will bring recovery and self-support and
not a hopeless load of debt. Mr. Hoover proposes that about $3 billion be
8. grant and that all the rest be in the form of loans. European Recovery
cannot come about if these countries must begin by taking on a debt burden
of this size. Mr. Hoover's proposal is unrealistic and can only lead to
disillusionment on our part and failure abroad.
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"ocrText": "Washington draft\nHAMA TRUMAN NARA UBRAN\nThe Committee for the Marshall Plan to aid European Recovery has noted\nthe statement submitted by former President Herbert Hoover to the Senate\nCommittee on Foreign Relations.\nIt is our considered view that Mr. Hoover's proposal is essentially a\nproposal for European relief, not European recovery.\nWe have recently issued a statement outlining four essentials of the\nEuropean Recovery Program. Mr. Hoover's proposal contravenes these\nessentials.\nThe first essential is prompt aid. Mr. Hoover makes no mention of this.\nThe second essential is Aid which will do the whole job. Mr. Hoover opposes\nthe adoption of a 42 year authorization; Mr. Hoover appears to oppose the\nfirst requisite appropriation of $6.8 billion.\nRecovery requires planning and the undertaking of long-term projects.\nEuropean countries cannot do this unless they can have confidence in our\nreadiness to carry through to success.\nRecovery requires a major effort at the start. The President's recommends-\ntion of a $6.8 billion is based on painstaking review of the original pro-\nposal of the European countries. It covers & program that can be handled.\nMr. Hoover's proposed revisions are not needed and would postpone or ruin\nthe chances of Europeen Recovery.\nThe third essential is Aid based on mutual respect and honor. Mr. Hoover's\nproposals are ones that the United States would be forced to reject if we\nwere in need of aid. He proposes that the United States Government buy\nlarge equities in European enterprises with local currency and apparently,\noperate those enterprises. He proposes that we review the social policies\nof the participating nations. Interference of this character will lead to\nfailure.\nThe fourth essential is Aid that will bring recovery and self-support and\nnot a hopeless load of debt. Mr. Hoover proposes that about $3 billion be\n8. grant and that all the rest be in the form of loans. European Recovery\ncannot come about if these countries must begin by taking on a debt burden\nof this size. Mr. Hoover's proposal is unrealistic and can only lead to\ndisillusionment on our part and failure abroad."
}