Word: aswan
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Before canceling out on the offer to help build the $1.3 billion Aswan Dam (TIME, July 30), the U.S. had speculated that Egypt's Nasser might seize the Suez Canal in retaliation. But State did not rate the chances very high. Secretary Dulles was in Peru when Nasser shrieked his challenge (see FOREIGN NEWS). Dulles got on the radiotelephone to Under Secretary of State Herbert Hoover Jr. Hoover conferred with President Eisenhower, and the President dispatched Deputy Under Secretary of State Robert Murphy to London to confer with the British and French on lines of counteraction...
...House and Senate were benumbed and confused when they came to the final vote on foreign aid, it was not too surprising. Early in the session the Administration had hinted broadly at a bold new program for long-range economic aid, had cited Egypt's Aswan Dam as a prime example of a worthy long-range project; now the Aswan Dam program had blown sky-high in the latest Middle East explosion. Never did the Administration present a coherent world economic policy. In May NATO's retiring commander General Alfred Maxmilian Gruenther testified grimly on the urgent need...
Dangling Offer. Seven months ago the U.S. offered Egypt a preliminary $56 million loan to start construction at Aswan. Aided by Britain ($14 million) and the World Bank ($200 million), the U.S. was willing to supply the major part of the capital to finish the mighty three-mile dam. But the offer was left dangling. Nasser, who had mortgaged $200 million worth of cotton not yet planted as barter for Czechoslovakian weapons, occupied himself by recognizing Red China and by planning a trip to Moscow. And when Soviet Minister Dmitri Shepilov visited Cairo last month, Nasser's spokesman whispered...
...decision won hearty approval in Congress, where cotton-state legislators are nervous about cotton-growing Egypt and where Zionist spokesmen have held Nasser to be the Middle East's archvillain. The Sen ate Appropriations Committee earlier had been so bold as to "order" Dulles not to make the Aswan loan from Mutual Security funds. Dulles firmly resisted such an unconstitutional demand. But the whole argument became academic when Dulles decided, for foreign policy reasons...
Problem for a Nurse. On the last day of the Brioni conference the U.S., in an astutely timed move to discourage the spread of neutralism, coldly withdrew its offer to help Egypt finance construction of the billion-dollar Aswan High Dam (see NATIONAL AFFAIRS). Flying off to Cairo with the bruised Nasser, Nehru, the high priest of neutralism, found himself at week's end playing nurse to a new and noisy member of the family. It was doubtful, however, that Nurse Nehru could offer 38-year-old Nasser much in the way of consolation or even advice...