Word: bank
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Dates: during 1950-1959
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Anderson's public services during his Waggoner years extended far beyond Vernon. He served as deputy chairman of the Federal Reserve Bank in Dallas, as chairman of the statewide board of education. In 1951 he sat on a commission set up by the president of Columbia University, Dwight David Eisenhower, to study manpower utilization during World War II. Ike was impressed. So was Anderson...
...Economic Affairs) C. Douglas Dillon, longtime international banker both on Wall Street and in Government and a firm believer in the imperatives of a sound world economic policy. Gradually the President's statements on foreign aid began to soften. By last September, Anderson could bluntly tell the World Bank and International Monetary Fund meeting in Washington: "There must be a reorientation of the policies of the earlier postwar period...
...Anderson's goal is to make aid to underdeveloped countries a cooperative free-world undertaking. At the World Bank-IMF meeting in New Delhi in October 1958, Anderson sponsored a proposal to increase World Bank funds by doubling the member nations' commitments to guarantee World Bank bonds. At the same meeting, Anderson unwrapped a U.S. plan to set up an International Development Association (with the U.S. contributing one-third of the capital) to make loans that, unlike World Bank loans, would be repayable in the borrowing country's own currency, no matter how soft. At the World...
TRADE. Anderson's drive to get other industrial nations of the free world to lower their trade barriers against U.S. goods has already brought dramatic results. At the late September meeting of the World Bank-IMF, Sweden's Per Jacobsson, managing director of IMF, agreed with Anderson that the "new situation' called for a "fresh examination" of international economic policies. The IMF executive board urged member nations with adequate gold and dollar reserves to end discrimination against U.S. goods "with all feasible speed." A few days later, the meeting of the 37-nation General Agreement on Tariffs...
...remembering their parents' talk of the hard poverty in their old-country village, the two brothers-who had never been there-decided on a gift for San Marco. Everyone in the village would be given 25 shares of Bank of America stock, worth $1,200, with annual dividends running to $80 or more. Said Joseph: "We felt that giving them stock, so they would get a dividend check every quarter, would put joy in everyone's heart." Argued Victor: "Then we thought that because of America's trouble with Russia . . . this might be a pretty good move...