Page 5, 20th April 1945

20th April 1945
Page 5
Page 5, 20th April 1945 — U.S.A. Catholics Welcome World Bank Plan

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U.S.A. Catholics Welcome World Bank Plan


Acceptance by the United States of the Bretton Woods financial proposals to establish an International Bank for Reconstruction and Development and an International Monetary Fund, " is a necessary step td that further economic oo-operation and action in the field of international trade which is a vital requirement for a peaceful and prosperous world," states a report of the Post-War World Committee of the Catholic Association for International Peace, published here.

" Immediately after the war," the report states, " the devastated countries will need machinery and equipment to rebuild their roads railroads and bridges and to put their productive and service plants to work. But as a general rule they will be unable to pay foreign countries for such materials. In addition, areas which have never had an opportunity to develop their resources and build up their productive facilities will be anxious to broaden their economies and raise the standard of living of their peoples, but will be unable to afford the kind of equipment and machinery they need in order to do so. The United States, on the other hand, must reconecrt its vast plant facilities from wartime to peacetime uses and ensure jobs for all in producing peacetime goods."

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