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January 21, 1946 MEMORANDUM FOR MR. SIDNEY SHERWOOD: Mr. Alexander Taub of Alexander Taub Associates came in to see me this morning. He was interested in seeing a planning program worked out which will provide for the reconstruction of Europe and, at the same time, retard the reconstruction of Germany* It is his idea that if Poland will concentrate on machine tools - Belgium and Holland on shipping - and France on the automotive industry, the whole economy of Europe can be improved and the likelihood of the Germans recovering too rapidly would be avoided. He thinks the Bank should take this over-all planning into account in its extension of credits to devastated areas. He is planning to work out blueprints along these lines. I told him I, personally, was interested in his proposals and would like to see the blueprints when they are developted. His concept of overall planning, however, seem to me to be essentially a UNO, State Department, and Commerce Department function rather than that of the Bank's. He is going to talk to some more people and let us hear from him from tine to time. Wm. McC. Martin, Jr., Chairman of the Board
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