Word: eca
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Crying economy, some Republicans had hacked away at the program's main trunk -funds for ECA. Most Senators agreed with ECAdministrator Paul Hoffman that the foreign aid was not charity but self-protection; the difficulty was that Europe, being in no one's constituency, had to be debated on its own merits alone. Missouri's James Kem wanted to slash off $1 billion. Ohio's Taft offered an amendment to knock off $500 million, about 16½% of the total. He would favor cutting "every reducible appropriation," foreign & domestic, Taft declared, by just about that percent...
...pocket." Taft's amendment lost on a tie vote. But an amendment by New Hampshire's Styles Bridges for a $250 million slash, just like the one already passed by the House, was pushed through. Final total: $3.1 billion, of which about 90% goes to Europe under ECA, most of the rest to South Korea and other non-Communist areas in Asia...
Western chancelleries hoped that the overseas talks would be more than just another regional conference. ECA and the North Atlantic Treaty had arrested the first wave of Communist expansion on the European front. The Red tide, meanwhile, had rolled unchecked over much of Asia. Western diplomats were learning that the front against Communism was meaningless unless worked out on a global basis...
...only one area did there seem to be any disposition to economize. In the Senate, where members apathetically debated the new ECA appropriation, Republicans considered whether foreign aid could be reduced. Noting that Britain in the last six months had "balanced its international budget," Robert Taft said: "I wonder why . . . we should advance anything to the United Kingdom during the following year." But it seemed likely that, after all the talk was over, ECA would get most of the $3.3 billion it asked...
...time to lose . . . The cost for economic aid and for weapons, for both South and East Asia, has been estimated at three or four hundred million dollars a year . . . Much more than that amount . . . could be saved without serious risk and possibly with affirmative benefit through trimming our proposed ECA Marshall Plan appropriations for Western Europe for the coming year...