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    1952 TV US International Trade, Foreign Aid & Marshall Plan

    In this episode of “Chronoscope,” George A. Sloan, Chairman of the U.S. Council of International Chamber of Commerce, speaks about international trade and the economic benefits for the US if we commit to international reciprocal trade. He states that the war dampened international trade and increased the amount of aid we send to other countries to 7.5 billion dollars. Sloan states that we could use reciprocal trade as a way to get struggling countries back on their feet, thus eliminating the need for so much foreign aid. Rogers asks if this wouldn’t hurt our competing industries, citing the woolen good industry’s competition with Britain, but Sloan maintains that this is a negligible effect. Sloan even claims that international trade is one practical pathway toward world peace. He then states that the US must create trade relationships because we have begun to import raw materials that are integral to our industry and society. These include tin, iron ore, manganese, and oil. This brings to mind our current dependence on foreign oil and it is interesting to note that all three men see the opening up of oil trading relationships as a necessary and even a good thing. See the full length video at: