RECONSTRUCTION OF POLAND AND THE BALKANS:
AMERICAN INTERESTS AND SOVIET ATTITUDE              
 
                             Summary
 
        1.     United States economic interests in the recon-
struction of Poland and the Balkan states are general, 
the early return of trade to a multilateral basis and the 
achievement of European economic stability and prosperity.  
Politically, while this Government probably would not 
oppose predominant Soviet influence in the area, neither 
would it wish American influence to be completely nulli-
fied.                              
 
        2.     All of the nations require assistance in 
improving present primitive agricultural methods. All 
will probably require reconstruction of their railways, 
replacement of rolling stock, and rehabilitation of road-
bed and bridges. Whether Poland will require extensive 
industrial reconstruction will depend on the future 
course of the war and whether the Germans "scorch" the
area.
 
        3.     The United States will share in such reconstruc-
tion by Export-Import Bank credits, by technical aid 
especially to agriculture, and by participation in loans 
by the proposed International Bank. However, the possi-
bilities of credit assistance to Rumania, Hungary, and
Bulgaria may be considerably limited by their reparations 
obligations.
 
        4.     The Soviet attitude towards United States parti-
cipation in this area is uncertain. She may feel so 
strong that American financial aid will not be unwelcome, 
although she would probably prefer to act as the inter-
mediary or to see the loans made by the International 
Bank.