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European Payments Plan Drafted Signals New Trade System
WALINGTON A new development in the European Payment Union the Mars Plan drafts its charter in Paris. Paul G Hoffman ECA administrator says the Mars Plan hinges on EPA backing Congress has funded 490 million through EPU for the year ending June 30 1951. The plan aims to ease trade by using EPU credits and dollars replacing direct currency exchanges guiding European producers toward broader regional buying and selling. It assigns credits and dollars by trade activity to encourage cross border commerce and smoother currency use.
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