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ports (excluding reparations payments) by a lease of hoarded goods and in a steady in- considerable amount, and the USSR contrib- crease in production in the western zones. A uting heavily for the first time from its own level approximately 88 percent of 1936, at- stocks to maintain the faltering economy of tained in May 1949, was maintained during the zone. Zonal imports for 1948 were the summer months. RM 356.2 million, of which the USSR contrib- Important among the factors which obscure uted RM 88.2 million; and exports were only the outlook for further recovery in the west- RM 274.2 million, of which RM 40.5 million ern zones is the question of future control of went to the USSR. Although this trade was the area containing most of the steel indus- considerably in excess of the total 1947 foreign tries and hard coal deposits-the Ruhr. The trade, its distribution is significant in view of US and UK decided on 10 November 1948 to the East-West controversy. Less than one- give temporary management of Ruhr indus- fourth of the imports were from Western tries back to the Germans. This decision al- Europe, and exports to that area were corre- lows German trustees to operate the indus- spondingly small. Imports in the first quar- tries until the new German Government in ter of 1949 appeared to have increased about the western zones acts to socialize them or to 50 percent over the 1948 rate, while exports in- return them to private ownership. The de- creased over 95 percent. cision was made in the belief that increased In 1948 the Soviet Zone sent about RM 104 production would result, that this in turn million worth of goods to the Bizone and re- would relieve US and UK taxpayers of occu- ceived from that area about 140 million RM pation cost burdens, and that it would ensure worth. Much of this was raw material and a maximum contribution from western Ger- about 85 percent of it was shipped before Au- many to recovery in Western Europe. French gust when the counterblockade went into concern regarding a too rapid revival of Ger- effect. man industry was partially allayed by a six- power agreement reached 28 December 1948, 3. Economic Stability establishing an International Authority for the Ruhr with power to control minimum ex- a. Western Zones. port allocations of coal, coke, and steel from During the first two years of Occupation, the area. The agreement was signed and conflicting Allied policies served only to went into effect on 28 April 1949 amid German deepen the confusion and uncertainty which fears that the area was permanently lost to their material assistance was intended to cor- the German economy. rect. In view of the low levels of production Numerous other factors cloud the economic attained, the worthlessness of the currency as future of the western zones. To the extent a measure of relative values, and the low level that the area continues to be cut off from the of foreign trade, only strict rationing of neces- foodstuffs, raw materials, and manufactures sities and stringent price, wage and rationing of eastern Germany, it must remain the more controls prevented the economies of the sev- dependent upon foreign trade. The prospects eral zones from deteriorating. for the attainment of prewar levels in trade The Soviet action in breaking up the Allied with eastern Europe are not bright. Trade Control Council on 20 March 1948 may have with the West, although contingent upon the put a permanent end to quadripartite efforts continued success of the ERP, will probably to forge an economic entity of Germany; improve. nevertheless, it released the western zones Further increases in production in the west- from the baneful effects of Soviet tactics ob- ern zones is being hampered by an inadequate structive to economic recovery. The western investment program and by the unsettling ef- Allies countered the Soviet action by moves fects of the necessity for reorganization of aimed at increasing production in the western the tax system and division of responsibilities zones, beginning with the currency conversion between the lower levels of government and in June. This step alone resulted in the re- the new central government. New capital II-34

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    "ocrText": "ports (excluding reparations payments) by a\nlease of hoarded goods and in a steady in-\nconsiderable amount, and the USSR contrib-\ncrease in production in the western zones. A\nuting heavily for the first time from its own\nlevel approximately 88 percent of 1936, at-\nstocks to maintain the faltering economy of\ntained in May 1949, was maintained during\nthe zone. Zonal imports for 1948 were\nthe summer months.\nRM 356.2 million, of which the USSR contrib-\nImportant among the factors which obscure\nuted RM 88.2 million; and exports were only\nthe outlook for further recovery in the west-\nRM 274.2 million, of which RM 40.5 million\nern zones is the question of future control of\nwent to the USSR. Although this trade was\nthe area containing most of the steel indus-\nconsiderably in excess of the total 1947 foreign\ntries and hard coal deposits-the Ruhr. The\ntrade, its distribution is significant in view of\nUS and UK decided on 10 November 1948 to\nthe East-West controversy. Less than one-\ngive temporary management of Ruhr indus-\nfourth of the imports were from Western\ntries back to the Germans. This decision al-\nEurope, and exports to that area were corre-\nlows German trustees to operate the indus-\nspondingly small. Imports in the first quar-\ntries until the new German Government in\nter of 1949 appeared to have increased about\nthe western zones acts to socialize them or to\n50 percent over the 1948 rate, while exports in-\nreturn them to private ownership. The de-\ncreased over 95 percent.\ncision was made in the belief that increased\nIn 1948 the Soviet Zone sent about RM 104\nproduction would result, that this in turn\nmillion worth of goods to the Bizone and re-\nwould relieve US and UK taxpayers of occu-\nceived from that area about 140 million RM\npation cost burdens, and that it would ensure\nworth. Much of this was raw material and\na maximum contribution from western Ger-\nabout 85 percent of it was shipped before Au-\nmany to recovery in Western Europe. French\ngust when the counterblockade went into\nconcern regarding a too rapid revival of Ger-\neffect.\nman industry was partially allayed by a six-\npower agreement reached 28 December 1948,\n3. Economic Stability\nestablishing an International Authority for\nthe Ruhr with power to control minimum ex-\na. Western Zones.\nport allocations of coal, coke, and steel from\nDuring the first two years of Occupation,\nthe area. The agreement was signed and\nconflicting Allied policies served only to\nwent into effect on 28 April 1949 amid German\ndeepen the confusion and uncertainty which\nfears that the area was permanently lost to\ntheir material assistance was intended to cor-\nthe German economy.\nrect. In view of the low levels of production\nNumerous other factors cloud the economic\nattained, the worthlessness of the currency as\nfuture of the western zones. To the extent\na measure of relative values, and the low level\nthat the area continues to be cut off from the\nof foreign trade, only strict rationing of neces-\nfoodstuffs, raw materials, and manufactures\nsities and stringent price, wage and rationing\nof eastern Germany, it must remain the more\ncontrols prevented the economies of the sev-\ndependent upon foreign trade. The prospects\neral zones from deteriorating.\nfor the attainment of prewar levels in trade\nThe Soviet action in breaking up the Allied\nwith eastern Europe are not bright. Trade\nControl Council on 20 March 1948 may have\nwith the West, although contingent upon the\nput a permanent end to quadripartite efforts\ncontinued success of the ERP, will probably\nto forge an economic entity of Germany;\nimprove.\nnevertheless, it released the western zones\nFurther increases in production in the west-\nfrom the baneful effects of Soviet tactics ob-\nern zones is being hampered by an inadequate\nstructive to economic recovery. The western\ninvestment program and by the unsettling ef-\nAllies countered the Soviet action by moves\nfects of the necessity for reorganization of\naimed at increasing production in the western\nthe tax system and division of responsibilities\nzones, beginning with the currency conversion\nbetween the lower levels of government and\nin June. This step alone resulted in the re-\nthe new central government. New capital\nII-34"
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