Word: creditors
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Even the United States Chamber of Commerce, a traditionally conservative organization representing 161,000 U.S. businessmen, has supported extension of the Reciprocal Trade Agreements Act. It recognizes that the United States is no longer a junior nation with fledgling industries; it is a creditor nation with responsibility to all the people here and abroad. Rather than setting higher tariffs and new import quotas and pumping more aid into Europe, Congress should give Eisenhower's proposed Study Commission a chance to formulate a sensible tariff policy. It should extend the Reciprocal Trade Agreements, following the International Business Machine slogan "THINK," rather...
...Exports doubled in the past two years; today Germany is a creditor nation with a $600 million surplus in international trade. She has a favorable balance in the European Payments Union, where many of her World War II victims have deficits...
Debtor to Creditor. The German comeback could be measured in Bonn's own statistics. In 1948 the index of German industrial production stood at 56 (1936: 100); today it is 159. German exports increased about seven times in the past four years, and 75% in 1951. From being the biggest debtor in the European Payments Union (TIME, July 21), Germany has become its largest creditor, with a cumulative credit in September of $450 million...
...Asia . . . We have failed to use our influence to the fullest to bring about unity in Western Europe . . . We have failed to achieve real unity of spirit with our allies. The truth is that . . . our relation with them has remained too much that irksome bond which binds debtor and creditor...
Once more down on his luck, McCarthy is trying another comeback. But when he talked of starting a new wildcatting company, his chief creditor, Equitable Life Assurance, said no. It told him that he must put his McCarthy Oil & Gas Corp. and Shamrock Hotel in order, or step out of the management (TIME, April...