<Tr> <Td> </Td> <Td> Wikisource has original text related to this article: The Marshall Plan Speech </Td> </Tr> <P> After the adjournment of the Moscow conference following six weeks of failed discussions with the Soviets regarding a potential German reconstruction, the United States concluded that a solution could not wait any longer . </P> <P> To clarify the US's position, a major address by Secretary of State George Marshall was planned . Marshall gave the address to the graduating class of Harvard University on June 5, 1947 . Standing on the steps of Memorial Church in Harvard Yard, he offered American aid to promote European recovery and reconstruction . The speech described the dysfunction of the European economy and presented a rationale for US aid . </P> <P> The modern system of the division of labor upon which the exchange of products is based is in danger of breaking down...Aside from the demoralizing effect on the world at large and the possibilities of disturbances arising as a result of the desperation of the people concerned, the consequences to the economy of the United States should be apparent to all . It is logical that the United States should do whatever it is able to do to assist in the return of normal economic health to the world, without which there can be no political stability and no assured peace . Our policy is not directed against any country, but against hunger, poverty, desperation and chaos . Any government that is willing to assist in recovery will find full co-operation on the part of the USA . Its purpose should be the revival of a working economy in the world so as to permit the emergence of political and social conditions in which free institutions can exist . </P>

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