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co NTENT's 2-d

[Exhibits are printed in separate volume]

Index : Page
Alphabetical -----------------------------------------------------
Statement of
Bronz, George, special assistant to general counsel, Treasury Depart-
ment, Washington, D. C 262, 289, 316
Clayton, William L., Under Secretary of State for Economic Affairs-- 2
Fahy, Charles, legal adviser, Department of State, Washington, D.C.- 157
Hawkins, Harry, economic counselor, American Embassy, London,

England- ----- 176, 189, 237, 316 Leddy, John M., Division of Commercial Policy, State Department, Washington, D. C___ 316, 351,391 Phillips, William Taylor, Acting Chief, International Resources Division, Department of State---------------------------- 474, 499, 519 Ryder, Oscar B., Chairman, United States Tariff Commission, accompanied by E. G. Martin, general counsel ------------------------ 575

Stinebower, Leroy D., special assistant to the Assistant Secretary for
Economic Affairs, State Department, accompanied by John M. Leddy

and Edmund H. Kellogg---------------------------------------- 522 Terrill, Robert P., Associate Chief, Division of International Resources, Department of State, Washington, D. C.---------------- 415

White, Harry D., United States executive director, International

Monetary Fund, Washington, D. C --- – 619
Wilcox, Clair, Director, Office of International Trade Policy, Depart-
ment of State------------------------ 41, 75, 89, 122, 262, 289, 351, 391
White, H. D., International Monetary Fund, letter to Hon. Eugene
D. Millikin------------------

Letters, statements, etc., submitted for the record: -
Acheson, Hon. Ilean, letters to Hon. Eugene D. Millikin, chairman- 172,478
Appendix, draft of charter for an International Trade Organization
prepared by subcommittee of the Preparatory Committee meeting

at Lake Success, N. Y., January–February 1947________________ 641 Atlantic Charter, The, one of the sources of the ITO, statement by the I'epartment of State------------------------------------------ 48 , Business backs United States in stand on trade, article from the New York Times---------------------------------------------------- 132 v Clayton, Hon. W. L., letter sent to Hon. Tom Connally, Chairman of the Foreign Relations Committee of the Senate______________ 56 Countries with which the United States has existing trade agreements, list----------------------------------------------------- 612 . Economic and Social Council, resolution regarding the calling of an International Conference on Trade and Fmployment______________ 55 Estimates of personnel and costs of ITO in initial year------------- 131 General Agreement on Tariffs and Trade, section K, tentative and partial draft outline------------------------------------------- 70 Metropolitan territory and self-governing territories, discussion of by Mr. Stinebower------------------------------------------------- 572 Nature of enforcement in the New York draft of the ITO charter by State Department---------------------------------------------- 358 Peru trade agreement, article XI-------------------------------- 408 Proportion of United States imports subject to trade agreements negotiations at Geneva-------------------------- -------------- 516 Protection against harmful measures in the field of economic development, statement of the State Department------------------------ 144 ,

Reciprocal trade agreements negotiated by the United States with
foreign countries prior to 1934, list.----------------------------

Ryder, Oscar B., Chairman, United States Tariff Commission, letter to

Senator Eugene D. Millikin-------------------------------------

State Department memorandum setting forth the authority other than

possibly by treaty, for delegating to an international body jurisdic-

tion which Congress has over duties, imports, and excises and our

foreign commerce generally ---- --

Summary of import license and exchange control regulations in prin-
cipal foreign countries, submitted-by the Department of Commerce-

Understanding reached on commercial policy—joint statement by the

United States and the United Kingdom

United States foreign trade, 1939 to 1946, table--------------------
Vandenberg, Hon. A. H., a United States Senator from the State of
Michigan, letter


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INTERNATIONAL COURT OF JUSTICET – — — — — — — — — — — — — — — 9Boal. AsSoLi - - - - - - - - - - - - - - - - - - - - T-SECURITY COUNCIL
15 judges, chosen as individuals, each 51 countries, each with one vote. 5 Permanent Members: U.S., U.K., USSR
from different country. Decisions by Powers: discussion and recommendation. France, China. 6 Non-Permanent Members
majority vote. Scope: legal disputes Decisions by majority voting. with 2-yr. terms. Major decisions re-
referred to it voluntarily or by "----- **----- quire unanimous vote of all Permanent
agreement. T------- Members plus two non-Permanent Members.

T--~~~ Scope: matters affecting international

ECONOMIC AND SOCIAL COUNCILos L - - - - - - - - - - - - - - - - - -SECRETARIAt - - - - - - - - - - - - - - - - - - - - - - - Trustership Council 13 countries elected by General Assembly for 3-yr. Not yet established.

- Signed at San Francisco,

T--~ peace and security.

terms. Decision by majority vote. Scope: all
economic and social matters necessary to maintain
stability and well-being as a basis for peace:
coordination of work of specialized agencies
through consultation and recommendation.

| - z
| _ _Specialized Agencies to be brought into relationship, with United Nations. ! — -

t t

Created Oct. 13, 5 by To be created as a Created Dec. 1915 with present Created Dec. 1945 with Created 1919 World Health Org.:
k2 countries to make cooperative effort membership of 38 countries and present membership of for cooperative UN Educational
studies and recommon- to remove artificial subscribed capital of $7.7 bil- 39 countries and sub- improvement of Scientific and
dations on world food barriers to foreign lion. Purpose to make or scribed capital of $7.k. world labor Cultural Org.:
production, distribu- trade and to expand guarantee long term loans for billion. Purpose to conditions. International
tion and consumption, international trade reconstruction or development promote stable exchange Civil Aviation.
including nutrition. €enerally. of resources of member coun- rates and to eliminate

tries. - uneconomic restrictions

on currency transfers. June 1, 1946




UNITED STATEs SENATE, CoMMITTEE on FINANCE, Washington, D. C. The committee met at 2:30 p.m., pursuant to notice, in room 310 of the Senate Office Building, Hon. Eugene D. Millikin (chairman) presiding. Present: Senators Millikin (chairman), Bushfield, Hawkes, George, Connally, Johnson, and Lucas. The CHAIRMAN. The hearing will please come to order. The purpose of this hearing is to inquire into the relationship of the trade agreements system and the proposed International Trade Organization Charter. Congress is o in possession of considerable information as to the trade agreements system, but there seems to be very little information as to the proposed International Trade Organization. Therefore, the emphasis will probably be in the main on the International Trade Organization, although obviously the object of our inquiry requires examination into both. I should like to say that we have a letter from Senator Wandenberg, chairman of the Foreign Relations Committee, dated March 12, 1947, which I shall read for the record. The letter is addressed to me as chairman of this committee [reading]: MY DEAR SENATOR MILLIKIN: You have discussed with me from time to time your belief that the proposed Charter of the ITO (the proposed International Trade Organization) should be carefully reviewed ahead of the Geneva Conference so that the State Department may have the advance benefit of congressional suggestions regarding this vitally important matter. I am in complete agreement with you that it is highly advisable to pursue this course. It is a subject which falls particularly within the interest of the Senate Finance Committee.

I sincerely hope you will pursue your purpose to have the whole subject matter carefully reviewed at once by your committee.

As chairman of the Foreign Relations Committee (which will have primary jurisdiction when the ITO agreements are completed), I would greatly welcome the advance advice of the Senate Finance Committee; and it should be advantageous to the State Department to know your committee's considered view in advance of the negotiations.

With warm personal regards and best wishes.

Cordially and faithfully, - - A. H. VANDENBERG. Our first witness will be Secretary Clayton.

Mr. Secretary, I assume that you wish to discuss the subject generally, and that later on when you have finished we will discuss the details of the proposed International Trade Organization Charter with Mr. Wilcox.


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