Word: eca
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Bridges supported Lend-Lease and Selective Service before World War II, ECA and the North Atlantic Treaty after it. Last week Styles Bridges moved his desk (which once served New Hampshire-born Daniel Webster) to the floor leader's spot in the first row of the G.O.P. side of the Senate Chamber, and settled down to a hard session's work...
...shows at home and abroad. Severino's classmates at the village grammar school in Sant' Arcangelo soon caught the fever, formed a hard-painting little group known as "the School of Severino." Paramount Films did a movie short about the youthful artists. In last year's ECA International Child Art Competition (TIME, Sept. 24, 1951), several of the top prizes in Italy went to adherents of the School of Severino...
...which was once called isolationist, this week closed its books on history's greatest single act of international generosity: the Marshall Plan. In 45 months, ECA spent $12 billion-the equivalent of $80 apiece for every man, woman & child in the U.S.-to heal Europe's war wounds, to start up factories, and to rescue from fear, apathy and poverty millions of Europeans and Asians. Biggest beneficiaries: Britain, $2.8 billion,* France $2.3 billion, Germany and Italy $1.3 billion each. Tiny Holland-with an even $1 billion - got more than the whole of Asia...
...Though ECA is ended, the spending goes on under a new name and with a new purpose. The new outfit (headed by Averell Harriman) is the Mutual Security Agency; key word in MSA is "security" as "economic" was in ECA. In 1952, MSA will spend $6 billion, mostly in arms, in Europe alone. The U.S. taxpayer will hardly notice the difference...
...loan to Britain in July 1946 was not an ECA transaction...