AMERICANS since V-E Day have spent more than $11 billion to aid European recovery. Through UNRRA, the Red Cross and private agencies we have shipped millions of tons of supplies for relief and reconstruction. We loaned $8 billion to Great Britain, France and other European countries to purchase food, raw materials, and equipment for their factories, and to repair their transport systems and their public utilities. The President, the Secretary of Agriculture and other public officials have pointed with pride to these evidences of American foresight and generosity. They, and Congress and the public, seem to have assumed that the job was finished, or soon would be. UNRRA's term expired December 31, 1946, and with it large-scale international relief came to an end. While reconstruction might take somewhat longer, it was hoped that the American loans already made would enable Europeans to finish that task largely by their own efforts. Whatever additional outside help was needed could be supplied by the new International Bank for Reconstruction and Development.
We were much too optimistic. After two years of nominal peace, Europe is still a long way from self-support. England, having exhausted three-quarters of her $4 billion loan, has found it necessary to cut still further her already restricted imports, to reduce her military establishment and to reimpose some wartime controls of production. Everywhere in Europe today inflation, strikes, hunger, bad housing, political unrest and frustrated hopes of better times are still hampering productive effort.
Now, in the fall of 1947, we are faced again with an appeal to help Europe, and on a larger scale than ever before. Millions of intelligent Americans, men and women of good will, are puzzled. Not questioning Europe's continuing need, they want to know what went wrong. Whose fault is it that Europe is not on her feet again? What assurance have we that new loans, or new gifts, will actually revive production and lift standards of living? How will large-scale aid to Europe affect our attempt to maintain stability in the American
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