(3 of 3)
In this perspective, the rehabilitation of Britain, Western Europe, and other areas where socialism and capitalism compete becomes much more important than tariffs and Queensberry rules of trade. The world needs more capital, and only the U.S. has any to spare. The British Government is using too much of the U.S. loan to buy tobacco and Hollywood movies because Britain cannot get delivery of the U.S. machines she needs for recovery. Geneva will not free trade between nations unless the level of world production—stimulated by U.S. capital shipments abroad—is on the upswing.
* The 18: Australia, Belgium, Brazil, Britain, Canada, Chile, China, Cuba, Czechoslovakia, France, India, Lebanon (Syro-Lebanese Customs Union), Luxembourg, The Netherlands, New Zealand, Norway, Union of South Africa, the U.S.