The Rotary Balita no. 723 (June 18, 1953)

The expiration of the Import Control Law at the end of this month will place mainly on the shoulders of private enterprise a vital matter related to the national economy, the conservation of dollars needed to carry on international trade. Whatever governmental control will be exercised further will be through the Central Bank which, in effect, will be limited to the sale of dollars while actual restrictions on importations will be exercised by the commercial banks in accordance with the rules and regulations formulated. Such are the plans set forth and which will most likely be adopted. If they are ultimately carried out as expected, then the private banks will have an opportunity for service to compensate for the burden they will be called upon to assume. Private enterprise should do its job willingly and effectively. The decision of Congress to let the Import Control Law expire is beneficent to the interests of private enterprise and this should prove equal to the opportunity of playing a role in easing up government restrictions as a step toward the return to normalcy.