Prospects of a hot war are small. Prospects of slowly lessening the rigors of the cold war are improved some-what. Prospects of a positive peace depend on a four point program of a powerful U.N. police force, the expansion of free world trade, full peace-time employment, and assistance to underdeveloped areas," Henry A. Wallace declared in an interview Saturday afternoon.
Later that day in an All-College Conference forum, Wallace expanded his plan, laying great emphasis on a large scale program of agricultural loans to "200 million families" in backward areas of the world, who might otherwise "think Communism holds out more hope for them."
John Harriman, Pulitzer Prize winning economics columnist of the Boston Globe, attacked this, saying, "The American people will never go along. It is too amorphus. They won't want to be taxed so heavily."
Thomas Schelling, a Mutual Security Administration economist, egged on by Wallace, turned to the audience and said, "There is a lot of truth in what Mr. Wallace has just said." Schelling further indicated that if the voters want that sort of program. "Let this be known."
Must Save India
"If it had been possible to have moved into post-war China in a big way with a program of supervised loans to small farmers, the whole history of Asia would have been changed," Wallace stated. "There is no time to be lost. Five years may be too late in a country like India."
The former Secretary of Agriculture, Commerce, and Vice President, alluded to the old Farm Security farm program and the more recent work of the private Nelson Rockefeller economic and social development in Venezuela and Brazil as excellent small-scale models of supervised farm loans.
Stressing the fact that money must be accompanied by education, he continued, "Bucking for new methods on a rented farm is not enough. There must be hope for eventually owning a farm. We must remember that bread hunger in the cities and land hunger on the farms have been the great cause of revolutions. Certainly this was true of the French, Russian, and Chinese revolutions."
"The Communists with their programs of envy and hate can never get anywhere if we get to the people at the bottom of the pile with an understanding, effective program of rapid, supervised, credit assistance," Wallace concluded.