Hansen Urges Trade Control

Alvin H. Hansen, Lucius N. Littauer Professor of Political Economy and member of the Federal Reserve Board, speaking at the opening meeting of the Oriental Club on Monday evening, urged the necessity of creating an international trade equilibrium after the war.

He suggested the possible establishment of a United Nations Foreign Development Authority to control the world's balance of trade. The foreign investments of the wealthy nations might be regulated by this board, whose purpose would be to develop the home industries of the poorer nations.

Also, American prosperity, Hansen explained, regulates world prosperity. Thus the creation of a high United States income level would tend to better economic conditions in the industrially backward countries.

Large Opening Meeting

Cheng, Ting, present head of the Oriental Club, explained to the 40 members and guests attending the opening meeting at Lowell House, that their organization is not intended primarily for Orientals, but is open to all wishing to join.

Emphasizing the importance of universal interest, Ting remarked that permanent peace for the world can be achieved only by mutual understanding between the peoples of the various parts of the world. The purpose of the Oriental Club, he continued, is to increase this understanding by presenting at regular open meetings throughout the academic year various leaders from China, Russia, Ind'a, and the other Asiatic nations. These men and women will speak on the history, customs, culture, and problems of their country and special emphasis will be placed upon the Asiatic's role in the post war world.