Word: eca
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Dates: during 1940-1949
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...object of Jenner's wrath was the $5.5 billion authorization bill to carry ECA through its next 15 months of operation (see INTERNATIONAL). All week long a little knot of Republicans chipped and chiseled away at the whole tripod of U.S. foreign policy-ECA, the North Atlantic pact, the arms program for Western Europe. Their weapon was an amendment drafted by Nebraska's Republican floor leader Kenneth Wherry, which would lop $1.9 billion off ECA's budget and extend it only a year...
Haggling. Meanwhile, Republican Robert Taft had moved in. Teaming up with rebellious Democrat Dick Russell of Georgia, he wanted to cut the ECA 10% for economy's sake only. "I do not believe the scale on which we are spending money can be economically justified," said Taft. "If we are not willing to cut ECA ... we cannot cut any other expense...
...trying to buy most of what she needs from the sterling areas. She has reduced her dollar imports by 25%; the other major OEEC nations by only 15%.* Last week Cripps proposed that the others should make a further reduction of 10% to match Britain. At this point ECA's Averell Harriman, who had been itching to join the discussions, was invited in, and promptly threw his weight with the continental high-volume traders...
...Hallmark's top prizes were such as only a Picasso or Matisse could expect for a canvas. Almost instantly, the French had a name for the whole thing: le plan Marshall de la peinture. That meant that Frenchmen would take sides on the Hallmark Plan just as on ECA. Screamed the Communists: "Nothing but an effort to destroy our national independence...
...wondered how long the gravy train could keep running. They discussed ways of boosting their markets by 1) removing the legal restraints from margarine (which uses cottonseed oil); 2) pushing the sale of cotton bags for feed by using prints convertible to dresses (TIME, Jan. 31); and 3) getting ECA to step up 1949 exports (which would otherwise be the lowest since the Civil War). The cotton growers, who use about 10% of all fertilizer, also looked at the big use of paper bags by that industry, estimated that judicious pressure there alone could step up cotton consumption from...