Ludwig Erhard Addressing a Session of the World Bank

(Original Caption) Dr. Ludwig Erhard, Minister of Economic Affairs of the Federal Republic of Germany, addresses the boards of governors of the World Bank and the International Monetary Fund during their ninth annual meeting in Washington. The 57 year old economist, who is serving his second term in the Bonn government post, appealed for a freer flow of currencies between member countries to aid in attaining "that degree of national economic efficiency which is necessary to get rid of the danger of collectivism once and for all." Dr. Erhard is the German governor of the International Bank for Reconstruction and Development.