John Foster Dulles, in charge of drafting a peace treaty with Japan, last week outlined a "peace of reconciliation" which promised to be a great act of U.S. statesmanship. The main terms:
Territory: Japan will renounce all claims to Korea, Formosa, the Pescadores and Antarctic area. U.N.-U.S. trusteeship may continue in the Ryukyu and Bonin Islands. The Yalta cession to Russia of the southern Sakhalin and the Kurile Islands will be recognized as permanent only if Russia signs the treaty as a whole.
Economics: There will be no major reparations either from capital goods or from current production, because the Japanese...
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