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VII. SECOND COMMITTEE : ECONOMIC AND FINANCIAL QUESTIONS Chairman : Mr H. Santa Cruz {Chile) ■ Vice-Chairman : Mr V. P. Smoliar {Byelorussia) Rapporteur: Mr Finn Moe {Norway) New Zealand Representatives Mr J. Thorn Dr W. B. Sutch Miss H. N. Hampton Agenda The Second Committee was allocated the following items : 1. Chapter II of the report of the Economic and Social Council. 2. Discriminations practised by certain States in international trade obstructing normal development of trade relations and contrary to the purposes and principles of the United Nations Charter. 3. Problem of wasting food in certain countries. Chapter II of the Report of the Economic and Social Council During the discussion of this section of the Economic and Social Council report, general satisfaction was expressed with the achievements of the Council in the economic field, particularly in the practical tasks which its regional economic commissions were performing. Some representatives, however, criticized the Council's lack of executive authority and declared that it had provided members with no material or assistance of immediate practical value. The United States delegate referred to the possibility of finding, through frank discussion, common international agreement on economic matters, mentioning particularly the Havana meetings and the International Trade Charter. Representatives of Venezuela, Argentine, and Brazil spoke of the need for development of national resources, which would immediately allow higher standards of living. The Soviet delegate considered that the Economic and Social Council had concentrated too much on technical and research problems instead of upon the immediate need for agricultural and industrial development. In addition, the policies of agencies such as the International Trade Organization, the International Bank, and the International Monetary Fjmd were all dominated by metropolitan Powers, which were concerned to ensure maintenance of markets for their own industrial production. Delegates of the Soviet Union, Byelorussia, and Poland criticized the Marshall Plan, which, they declared, had the effect of subordinating the economy of Europe to that of the United States : the sixteen countries