55 STAT.] CANADA-ECONOMIC COOPERATION Mar. 17, 1941 1445 June 6. 17. 1941 MEMORANDUM ON ECONOMIC COOPERATION WITH THE UNITED STATES Pursuant to the approval of the War Committee of the Cabinet, on the recommendation of the Wartime Requirements Board, that a memorandum be drafted on a plan for exploring the possibility of a greater degree of economic cooperation with the United States in the war effort and in anticipating post-war economic consequences, we beg to submit the following: 1. The Problem The objects of the proposal for increased economic cooperation with the United States are: (a) to effect a more economic, more efficient, and more co- ordinated utilization of the combined resources of the two coun- tries in the production of war requirements, and (b) to minimize the probable post-war economic disequilibrium consequent upon the changes which the economy in each country is presently undergoing. 2. Joint Committees of Inquiry We recommend that, for purposes of preliminary study, an informal committee of three persons be appointed by each Government. These committees should separately and collectively analyze the problems involved and report thereon as well as on the form of a more per- manent organization, if the necessity of such an organization arises from their report. The reports should be made to the President of the United States, and to the Prime Minister of Canada, respectively. Of the three members of the Canadian committee, we recommend that at least two be designated by the Department of Munitions and Supply, and one by the Department of Finance. In addition to these three members, it is suggested that a liaison officer, representing the Department of External Affairs, should be appointed in order that the Secretary of State for External Affairs may be kept closely in touch with the activities of the committee. It is assumed that the United States will wish to appoint a similar liaison officer from the State Department, in order that the Secretary of State may be kept similarly informed. It is not intended that the liaison officers should be members of the committee or should participate in its work. We desire to stress the importance of care being exercised in the selection of the personnel of the committee, having due regard to its functions which will involve a great deal of research and analysis. 3. Subject Matter of Study We recommend that the Joint Committees of Inquiry explore the following subjects and report thereon: (a) The making of an inventory of the available supplies of mate- rials in each country, an analysis of the probable needs for them, and the allocation of these materials between the two countries, with due regard to the necessary priorities; 278941°-42-PT. II-36
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