The Baruch Plan was a proposal by the United States government, written largely by Bernard Baruch but based on the Acheson–Lilienthal Report, to the United Nations Atomic Energy Commission (UNAEC) during its first meeting in June 1946. The United States, Great Britain and Canada had called for an international organization to regulate atomic energy, and President Truman responded by asking Undersecretary of State Dean Acheson and David E. Lilienthal to draw up a plan. Baruch's version of the proposal was rejected by the Soviet Union, who feared the plan would preserve the American nuclear monopoly. Its collapse led to the beginning of the Cold War arms race. Description In the Plan, the US agreed to decommission all of its atomic weapons and transfer nuclear technology on the condition that all other countries pledged not to produce atomic weapons and agreed to an adequate system of inspection, including monitoring, policing, and sanctions. The Plan also proposed to internationalize fission energy via an International Atomic Development Authority, which would exercise a monopoly of mining uranium and thorium, refining the ores, owning materials, and constructing and operating nuclear plants. This Authority would fall under the United Nations Atomic Energy Commission. In short, the plan proposed to: extend between all countries the exchange of basic scientific information for peaceful conclusions; implement control of nuclear power to the extent necessary to ensure its use only for peaceful purposes; eliminate from national armaments atomic weapons and all other major weapons adaptable to mass destruction; and establish effective safeguards by way of inspection and other means to protect complying States against the hazards of violations and evasions. In presenting his plan to the United Nations, Baruch stated:We are here to make a choice between the quick and the dead. That is our business. Behind the black portent of the new atomic age lies a hope which, seized upon with faith, can work our salvation. If we fail, then we have damned every man to be the slave of fear. Let us not deceive ourselves; we must elect world peace or (elect) world destruction. Reaction The Soviets rejected the Baruch Plan and suggested a counter-proposal on the grounds that the United Nations was dominated by the United States and its allies in Western Europe, and could therefore not be trusted to exercise authority over atomic weaponry in an evenhanded manner. Nationalist China, a UN Security Council member with