OCTOBER 1, 1951
HYDE PARK, Sunday—In talking on Thursday with the Italian Prime Minister, I was impressed by the fact that unemployment stands out in the minds of every responsible official as one of the things which cannot be permitted in a nation if a successful fight is to be made against Communism. The Prime Minister spoke of the amount of unemployment in Italy, of the problem of overpopulation and of their efforts to find outlets for voluntary migration of their people to less populated areas of the world.
To my suggestion that possibly a nation such as Italy might need to expand its industrial capacity, he at once replied that this would have to be planned very carefully for fear of upsetting the economy of a country like Italy. This I can quite understand; but I am coming to believe that in certain European countries, and perhaps in Italy, there should be a complete rethinking of their methods on the part of their industrial leaders.
Occasionally I have the opportunity to talk to businessmen, and it seems to me the concept of partnership between the employer and employees has made far greater strides in this country than it has in some of the European countries. I am not sure whether under modern conditions the employer by himself can make the plans to expand business. It must be a policy which is understood by the workers and accepted by them as being in their interests as well as in the interests of the employer. There must be tangible evidence in the worker's pay envelope and in his working conditions that his is a partnership and that the profits are distributed on a fair and equal basis. It is true that in this country this is accomplished through strong unions and intelligent union leadership as well as by intelligent employer leadership. I believe the same machinery should be encouraged to function in other countries.
In the State of Tennessee, they are establishing the Cordell Hull Foundation for International Education. October 2 will be Cordell Hull's birthday. For some time he has had to be in the hospital, but he is out again and I think it is the hope of those interested in the foundation that the campaign to raise funds to establish this program will be vigorously under way at this particular time.
The idea is to establish a system of student and teacher exchanges in the institutions which make up the university center in Nashville, Tennessee. People will be brought from and sent to different areas of the world, thereby helping to promote understanding and goodwill and adding to the programs which are already being carried forward by other foundations and by the government of the United States. Mr. Hull's great interest in the sphere of international affairs has been the Reciprocal Trade treaties. One therefore hopes that under this foundation advances will be made in the study of international economics and aid will be given to develop ideas by which we can cooperate together throughout the world, to our mutual economic benefit instead of striving only to compete with one another.