Page:United States Statutes at Large Volume 61 Part 5.djvu/36

 A35 (ii) in the case of a contracting party with very low monetary reserves, to achieve a reasonabl! rate of increase in its reserves. Due regard shall be paid in either case to any special factors which may be affecting the contracting party's reserves or need for reserves, including,where special external credits or other resources are available to it, the need to provide for the appropriate use of such credits or resources. (b) Contracting parties applying restrictions under sub- paragraph (a) of this paragraph shall progressively relax them as such conditions improve, maintaining them only to the extent that the conditions specified in that sub-paragraph still justify their application. They shall eliminate the restrictions when conditions would no longer justify their institution or maintenance under that sub-paragraph. 3. (a) The contracting parties recognize that during the next few years all of them will be confronted in varying degrees with problems of economic adjustment resulting from the war. During this period the CONTRACTING PARTIES shall, when required to take decisions under this Article or under Article XIV, take full account of the difficulties of post-war adjustment and of the need which a contracting party may have to use import restrictions as a step towards the restoration of equilibrium in its balance of payments on a sound and lasting basis. (b) The contracting parties recognize that, as a result of domestic policies directed toward the achievement and maintenance of full and productive employment and large and steadily growing demand or toward the reconstruction or '
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