Word: bilaterall
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The U.S. became rudely aware of this when the British signed a bilateral agreement with Argentina (TIME, Aug. 26), split transatlantic traffic 50-50 by limiting the number of flights.
Last week in London a U.S. team headed by CAB Chairman James M. Landis achieved one. Henceforth the U.S. and Britain, according to a joint Anglo-American statement, will follow the basic principles adopted at Bermuda-i.e., to sign no bilateral agreements that do not include the five freedoms...
The Deal left everyone resentful. The U.S. was huffed at a projected bilateral deal counter to Washington's cherished plans for free, multilateral trade. (In view of the way the U.S. subsidizes cotton exports and keeps her tariffs up, this often seems hypocritical to other nations.)
The evening before the conference, CAB announced that it had deferred all consideration of the question. CAB gave as the reason the fact that representatives of the U.S. State Department, CAB and Britian are meeting this week in Bermuda to discuss a bilateral air agreement.
The U.S. Congress and public did not understand (because it had not been told clearly and authoritatively) that U.S. prosperity and hope of peace depended to a significant degree on the British loan. If Britain, appalled by the terms, refused the loan, these results were probable: 1) Britain would cling...