If these policies are not promptly reversedand at this point I see no hope for such reversal except by this Congress taking the initiativewe shall end in another economic debacle that will disastrously drag down the economic strength of our democracy at the moment of its most critical test in world history. Let it be remembered that a drop in our level of economic activity of only 5 percent or 6 percent can mean widespread unemployment and national disaster in many Latin American. Asiatic. and South African countries which supply raw materialIs. and particularly in those countries whose economies are heavily based on a single raw material. In 1938 there was a drop in gross national product here of only 6 percent. but United States imports dropped 31 percent. In the sterling area of Asia and Africa the proceeds from commodity exports dropped 48 percent.