3- the boundaries of laissez faire on the one hand and socialism on the other. If the private enterprise system is going to survive in the world, and sure we all hope that it shall, then the private enterprise system must be made to work and work for the greatest good for the greatest number. Most of the American firms that I know operating abroad perform commendably, but there are not enough of them to do the job. They cannot offset the damage, the incalculable damage, that is done by United States business when through its pressure groups in Washington it forces through protective legislation in the form of tariffs, import quotos, dumping practices, and the like. It would be my hope that more and more American firms would enter the foreign field and develop these countries under enlightened management in the free enterprise field and that those firms who cannot or do not choose to go abroad would recognize that they too have a really important stake in seeing efforts of this type flourish in foreign fields, even though