Certainly part of the change in sentiment has been brought about by the action of other nations toward the United States, for inherent in the American character is a respect for fair play and a desire to be loved. Naive though it may be, the United States expected that its gifts would be followed by some measure of gratitude on the part of the recipients and the rise of nationalism has offended the United States sensitivities. The impression is widespread that unfair trade practices and trade barriers have discriminated against United States goods and that investment restrictions have discriminated against United States capital. While we open our doors to foreign investment, others have discriminated against United States investment abroad whether by the subtle insistance of local participation or the slow resistance to the entry of foreign capital, as in the case of Japan, or in the outright confiscation or expropriation without just compensation that has occurred in some countries. I for one deplore the impending changes that I foresee may be forced on a reluctant United States administration by the current changes in sentiment. If we are to stem the tide, those of us who believe as I do are going to have to bring our influence to bear, but I fear that we cannot do it alone. Other nations must develop greater sensitivity to the United States political scene than the Japanese displayed in the textile case. We are going to need more intelligent action from our trading partners in their own interest as well as ours if we are going to perpetuate the free flow of goods, capital, and aid between the United States and other countries. # # # -4-