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CONTENTS

20

[Exhibits are printed in separate volume)

Index:

Page

Alphabetical

Subject----

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, accom-
panied 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 Re-
sources, 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.--

639

Letters, statements, etc., submitted for the record :

Acheson, Hon. Dean, 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

Department of State..

48

Business backs United States in stand on trade, article from the New

York Times.

132

('layton, 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 agree-
ments, list---

612

Economic and Social Council, resolution regarding the calling of an

International Conference on Trade and Employment.---

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

Protertion against harmful measures in the field of economic develop-

ment, statement of the State Department-

144,

585

· 617

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---

351

177

49-391 3.4

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TOOD AND AGRICULTURE

ORGANIZATION
Created Oct. 1945 by
42 countries to make
studies and recommon-
dations on world food
production, distribu-
tion and consumption
including nutrition.

Specialized Agencies to be brought into relationship with United Nations,
INTERNATIONAL TRADE
INTERNATIONAL BANK FOR

INTERNATIONAL MONETARY INTERNATIONAL
ORGANIZATION
RECONSTRUCTION AND DEVELOPMENT

FUND

LABOR OFFICE
To be created as a Created Dec. 1945 with present Created Dec. 1945 with Created 1919
cooperative effort membership of 38 countries and present membership of for cooperative
to remove artificial subscribed capital of $7.7 bil 39 countries and sub improvement of
barriers to foreign lion. Purpose to make or

scribed capital of $7.4 world labor
trade and to expand guarantee long term loans for billion. Purpose to conditions.
international trade reconstruction or development promote stable exchange
generally.
of resources of member coun-

rates and to elininate
tries.

uneconomic restrictions on currency transfers.

[blocks in formation]
[graphic]

INTERNATIONAL TRADE ORGANIZATION

THURSDAY, MARCH 20, 1947

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 already 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 Vandenberg, 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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