RECONSTRUCTION

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The Loan Administration Project for France will assist in the reconstruction of its war torn economy, as well as finance the import of specific goods and equipment necessary to its economic rehabilitation. A portion of the proceeds; will be devoted to the modernization of the steel industry, and to improve the transportation system by the purchase of locomotives, freight cars, cargo ships, canal barges, and commercial airplanes, and France will be free to purchase in the international markets at prices that are most advantageous. Because of its size and productive capacity, the economic future of France is pivotal in Western Europe. The economic rehabilitation of France through its industrial reconstruction and expansion in trade will help the economic recovery of surrounding countries, and it will indirectly benefit industrial integration in Europe that is essential if maximum production and rising living standards are to be achieved on that Continent.