invited to join its deliberations and to revise the draft an international wheat agree-
ment for submission to an international wheat conference. The governments of
Australia, New Zealand, South Africa and the United Kingdom established a Joint
Organization in 1946 to undertake the marketing of accumulated wool surpluses.
And there had been international study and discussion concerning the feasibility
of an international cotton agreement. All existing and projected commodity coun-
cils suffered from two important defects arising from the same cause, the need
for a more comprehensive organization. First, each commodity was considered
in isolation. Second, they lacked the financial resources to enable them to hold
stocks, bring stability to existing markets and develop new markets.
in January 1942 by 26 governments provided the vision of the United Nations
organization and a number of what were called UN `specialized agencies' to fulfil
the promises of Roosevelt's `four freedoms'. By its constitution, FAO was created to
make studies and recommendations for developments in the whole field of food
and agriculture, forestry and fisheries, and to stimulate and foster the international
co-operation necessary to carry them out. Its technical advisory services were
concerned with a wide range of scientific, economic and statistical problems that
underlay improved production and better distribution. The International Bank
for Reconstruction and Development (IBRD) was established by the UN to assist
in providing part of the large investment needed for agricultural and industrial
development. Development could proceed rapidly only on a basis of improved
education and health services, for which UNESCO and WHO had been set up,
and satisfactory and full employment, for which ECOSOC and ILO had general
international responsibility. One of the functions of the International Monetary
Fund (IMF) was to assist in alleviating the balance of payments difficulties of
member countries, which in itself was a major contribution toward mitigating
international trade difficulties.
tion of trade barriers, the elimination of restrictive business practices and action
in the field of commodity policy. Apart from the IBRD and the IMF, which were
designed to facilitate the solution of financial problems at the international level,
the functions of the other UN specialized agencies were limited almost entirely
to the accumulation and interpretation of facts and to make recommendations.
Neither singly nor in combination were they able to take measures to translate
their recommendations fully into action. The research and advisory functions of
FAO were necessary and could accomplish a great deal in achieving the elim-
ination of famine and chronic hunger and the attainment of prosperity and
stability for primary producers. But there was a vitally important gap. No UN
agency had the requisite authority and funds for carrying out co-ordinated inter-
national action where it was needed. In the discussions of world issues, it had
been repeatedly emphasized that nations should act together if major economic