Word: eca
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Abandoned Principle. All through the Senate debate there were hints that "economy" would be a much more popular word when the big EGA appropriation came before the Senate. Scenting trouble, ECA quietly abandoned its old first principle, that the Marshall Plan should be used only for peaceful economic recovery of Europe. Henceforth, said Deputy ECAdministrator William Foster, Marshall Plan nations could rearm themselves with their counterpart funds-some $3 billion in their own currencies which they have contributed, and put under U.S. control, to match ECA dollars. With that matter cleared up, the Senate briskly voted ECA its $2.7 billion...
...Pacific pact modeled on the North Atlantic pact. The Senate Finance Committee, after talking it over with Secretary of the Treasury John Snyder, regretfully shelved the bill to cut excise taxes. Thirty-five Senators (including five Democrats) backed a 10% cut in all non-defense appropriations, including ECA. Majority Leader Scott Lucas promptly objected to any such "meat...
...prevailing American attitude is that any help to Formosa, military or economic (beyond the present ECA program), would be a mistake because it would build up the Nationalist government, again identify the U.S. Government with it, and thereby contribute to the Nationalist return to the mainland so ardently opposed by our State Department...
...contracts with nine major studios and independent producers, ECA promised to sponsor (as an addition to the regular Hollywood supply of six-guns and sin) 72 carefully selected pictures. The Government agreed to guarantee, on each movie, the conversion of shipping and supply costs and up to $25,000 in earnings from blocked Deutsche marks into dollars. Sample ECA-picked films: The Heiress, The Informer, The Hasty Heart, Snow White and the Seven Dwarfs...
Silence. The pamphlet hit the world like a slap in the face. Cried ECA's Paul Hoffman: "Deplorable isolationism! . . ." France's Robert Schuman said with Gallic politeness: "I am surprised." It was, he added, "a brutal decision...