Speech #850024491

N. could in that way buy the area * * * under dispute by Egypt and Israel. The U. N. could issue a credit certificate against which rehabilitation projects could be undertaken and checks drawn to pay contractors and the refugees they might hire to build homes and farmsteads to rehabilitate a million or any other number of refugees. The U. N. could issue a credit certificate to pay for construction of the Aswan Dam or Egypt could take the credit it would receive for sale of the Gaza Peninsula and with it. build the dam. This money or credit would corne back to the U. N. as the refugees and others pay for use of water. power. light rentaltax on the land they occupy. and depreciation on the homes they would receive. It would have several advantages: First. Egypt would then have the much needed dam. the refugees would have the much needed farmsteads and occupation and Western Europe could have nonexplosive pipelines. * * * Sclhools could be built the same way and without bonds or interest and it could all be done without costing the taxpayers of this country a single penny. Second. it would disprove the Russian propaganda that we are aiming to expand financial imperialism. Third. it would begin to give the world a proper medium of exchange. issued for value that could be controlled so as to stabilize the overall price level.