710 Consultation 4/9–347
Memorandum by Mr. Edgar L. McGinnis of the Division of North and West Coast Affairs25
In his address September 2 at the closing session of the Inter-American Defense Conference, President Truman made significant reference to the inter-relationship of the economic problems of Europe and the Americas, and indicated the broad outlines of our policy toward Latin American countries in economic matters.26
The President made it clear that European economic recovery is fundamental and that while the United States would “do our best to provide economic help for those who are prepared to help themselves and each other,” he made it plain that our resources are not unlimited.
He referred to the fact that our own troubles “are small in contrast with the struggle for life itself that engrosses the people of Europe.” He stated the hope that the nations of America would be prepared, according to their abilities, to contribute toward the economic needs of Europe. Later in the speech he again emphasized “our collective responsibility for economic assistance” and pointedly referred to the fact that the economies of the Americas were intact with productive powers undiminished and resources not even fully explored.
Significantly he differentiated between the urgent need for rehabilitation of war torn areas and the problems of development elsewhere. The President stated that the problems of the countries in this hemisphere are different from those in Europe and can not be relieved by the same means that are in contemplation for Europe. As he pointed out “here the need is for long-term economic collaboration. This is a type of collaboration in which a much greater role falls to private citizens and groups than is the case in a program designed to aid European countries to recover from the destruction of war.”
The President made it clear, however, that the United States was not oblivious to the need of increased economic collaboration within the family of American nations and assured his hearers that these [Page 79] economic problems “will be approached by us with the utmost good faith and with increased vigor in the coming period.”
To sum up, the President put the economic rehabilitation of Europe on a priority basis and sought the aid of the other American Republics in solving this problem. He promised that increasing attention would be given to the economic problems of the Americas, but indicated that these problems were of a long-range character and could be resolved in great measure by private citizens and groups (i.e. by private capital).27
- Addressed to officers of the Division of North and West Coast Affairs.↩
- For text of the address, see Department of State Bulletin, September 14, 1947, p. 498.↩
- A marginal notation in the original reads: “The comments from Bogotá on President Truman’s address thus far have been sour. A H G[erberich?].”↩