VER since January 20, 1949, when President Truman proposed his Point Four-a bold new program for making the benefits of our scientific advances and industrial progress available for the improvement and growth of underdeveloped areas-there has been considerable discussion of its merits, its feasibility, and its implications. The modest beginning to a Point Four program which has recently been made has not put an end to the controversy. It is timely, therefore, to point out an important aspect of the Point Four concept which has generally been overlooked: its significance as a possible* factor in the future course of United States investment in foreign mineral production, in the light of the strategic mineral position of this country. It is true that the recent report of the International Development Advisory Board' emphasizes the need of aiding private investment in raw material production to assure the free world and its principal arsenal, the United States, of the necessary supply of those materials in the effort to maintain that freedom. Nevertheless, emphasis is on immediate or short range needs, whereas the argument to be developed in this discussion stresses a problem which would confront us even if the current threat of totalitarianism were to disappear. Under the ideological stresses of the cold war it is tempting to picture Point Four as a completely altruistic proposal which demonstrates to the world the unselfishness of this country in its concern for the well-being of mankind. A realistic appraisal of the program, however, recognizes that it is, like the European Recovery Program, an act of enlightened self-interest. A world which enjoys a higher standard of living will have greater political stability, will possess a greater purchasing power to spend on this country's exports, and, most important for the present discussion, will increase the world's available supply of raw materials through an increase in productive efficiency and the availability of capital.2 In the Russian point of view the self-interest of this country inherent in Point Four is so exaggerated as to make the program nothing more than a form of disguised imperialism. It is possible, however, to discuss the self-interest aspect of Point Four in terms of a quid pro quo without implying that this country seeks to gain any unjust advantage through the imposition of onerous terms on a beneficiary. The following discussion seeks to demonstrate that in the field of mineral raw materials the self-interest of the United States lies in an expansion of the world supply of those minerals in which this country is or will be deficient; that in the absence of Point Four assistance in this field there may be an insufficient expansion or none at all.