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10/20/53 - Reel 1, track 2 - Page 1 MR. ACHOSSON: He said they were working on markets which he understood were in some sense umproductive, this block sterling gave the British highly protected markets which they didn't have to work very hard for, but at least there was very considerable employment, and pseudo-prosperity in England. If they gave all that up and turned to the United States, the first thing they would discover was that they didn't have anything. That vas regarded as not very far-sighted by some of our participants. They then got on to talking about such things as stock piling. At this time there was a great falling off in the price of rubber and members RECORDS ADMIN TRUNDAY CATIONAL tin and some of the dollar earners of the British colonial empire. We tried to get our people to pitch in and help, and we immediately ran into the greatest possible difficulties. For instance, in rubber: that raised the whole question of the synthetic rubber production. That got Charlie Sawyer all tangled uo with that munitions board, and instead of having one or two people who could go to the President and get a decision, you had 8. great vast bureau- cratic labyrinth to go through, so that when you broke your back on getting increased purchases abroad, you finally came out with something which was too small to do the British any good, and big enough to cause a great deal of trouble in the American Government. The same thing happened with a good many of the proposals that we had up. I remember one that the British were upset about. The ECA funds avail- able to the British vere doing them no good at all, because they had so many restrictions as to what you could use these dollars under EDA for, that they could only be used for things that the British did not want to help their dollar position, and they could not be used for the things that the British did want to have dollars for. Well, we