Editorial Note
On March 1, 1948, President Truman in a special message to the Congress, requested an extension of the Reciprocal Trade Act which for the previous 14 years had “been an essential element of United States foreign policy.” Secretary Marshall testifying before a House of Representatives Ways and Means subcommittee on May 6, 1948, stated that the act was “the cornerstone and keystone of our foreign economic policy.” For texts, see Department of State Bulletin, March 14, 1948, pages 351–352; and ibid., May 16, 1948, pages 651–652.