Address at the Annual Meeting of the Academy of Political Science

Eugene Meyer, President of the International Bank for Reconstruction and Development, spoke about the marriage partnership between politics and economics in which divorce is an impossibility. The essential objective and the operation of the Bank which is to promote the international flow of long-term capital and to assure funds for the reconstruction of devastated areas and the development of resources in member countries. The Bank does not compete with private banks, but rather serves to promote foreign investment. It is empowered to extend credit from its own capital, borrow capital, and issue loan guarantees. World stability is threatened by a starvation for the materials with which to reconstruct. He stressed the need for settling the labor disputes without the disastrous strikes which bring about world starvation. The Bank can play the accelerating role of reconstruction and development for which it was established