Word: eca
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Dates: during 1950-1959
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...involvement in the conflict. In 1940, he headed the Democrats-for-Willkie group. He became a director of a number of topflight U.S. corporations, e.g., Freeport Sulphur Co., Buffalo, Rochester & Pittsburgh Railway Co., Bausch & Lomb Optical Co. In 1948, he served for a year as chief of the ECA mission to The Netherlands and was made a Grand Officer of the Order of Orange-Nassau by Queen Juliana...
...minute radio spots were pre-evaluated for crowd appeal, his comicstrip ads pretested for reader interest. He set up street-corner booths, stocked them with pretty girls, ran off five one-minute movies showing Benton the homebody (his wife showing off his scrapbook), Benton the internationalist (his trip inspecting ECA's Italian projects, aimed at the state's 239,000 Italians), Benton the statesman (flashes of Marshall, Eisenhower and Baruch endorsing his "Marshall Plan of Ideas...
Italy is an ally of the U.S. in the Atlantic Pact. How effective an ally was a question raised sharply in Rome last week. ECA officials, who under their breath had long been criticizing the Italian government's economic policies, finally said out loud what it was that bothered them...
...government three years ago had launched Italy on a course of courageous fiscal austerity. The government tried to spend as little as possible on public works, clamped severe restrictions on bank credit. These measures worked to stop inflation, stiffened the spine of the lira. But Italy, the ECA men say, has had an overdose of its fiscal medicine...
...doing enough for a vigorous expansion of industries. Businessmen find it hard, if not impossible, to get capital for expansion; the credit shortage is part of the reason why Italian industry, despite great progress, is still not producing enough (the mechanical industries now operate only at 60% of capacity). ECA officials were worried about Italy's 1,800,000 unemployed. Above all, they were afraid that Italian industry in its present condition would not be able to do an adequate job of defense production necessary under the Atlantic Pact rearmament program...