Wallace Asks $50 Billion Program To Repair War-Ravished World; Taft Leads Senate Labor Debate

PARIS, April 23--Henry A. Wallace in a series of speeches today called for a $50,000,000,000 world reconstruction program and declared the United States would have the gravest depression of its history unless it took the lead in world-wide repair of the ravages of war.

"This will be one of the most serious depressions the United States has ever had, a most amazing phenomenon which will affect the whole world," the former Vice-President told the Centre d'Etudes de la Politique Etrangere, a French organization similar to the Foreign Policy Association in the United States.