Word: eca
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Dates: during 1940-1949
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Critical legislation such as rent control (due to expire March 31) and ECA appropriations were tied up. Something had to give. At week's end, in an atmosphere of dull obstinacy, members came to a bitter showdown...
...formation of a Far Eastern bloc was suggested. Though rejected, it was clear proof that Asiatic nations are prepared to organize to protect their interests. Continued Dutch action has become enormously dangerous by risking alienation of such a group. To crack the whip, Senator Brewster recommended last month that ECA aid be cut-off from any nation which disregards UN directives...
Last week the harried Chinese government, through its Washington ambassador, V. K. Wellington Koo, offered a proposal of its own. If the U.S. would agree, the Chinese government would forgo some of the ECA aid already appropriated, in order to have $500,000 worth applied to the education bills of its stranded scholars. That would at least get them through next June's final exams...
Flowing Hope. Its success, witness after witness asserted, could not, and should not be measured in economic terms alone. The impact of EGA, said Secretary Acheson, had altered "the political atmosphere of an entire continent." Added W. Averell Harriman, ECA's European ambassador: "Hope, and the will to resist tyranny, were ebbing in Europe in 1947. They are flowing again today. It is this-the will to live as free men and to go forward toward a future which, while it cannot be precisely foreseen, can yet be believed in-which has arrested the spread of reactionary Communist aggression...
Arms Are Extra. The cost of hitting hard, Hoffman declared, would be $4,280,000,000 for the fiscal year beginning July 1. This was $730 million less than the $5,010,000,000 spent in ECA's first twelve months of operation ending April 1. For the three-month gap from April 1 to the start of the new fiscal year on July i, Hoffman asked an additional $1,150,000,000. These figures did not include military aid to Greece and Turkey, nor aid to China, which is now on a "day-to-day" basis...