Word: eca
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...work with his colleagues, to accept the slowness of Senate processes, and to keep his ulcers from acting up. In White House conferences, he gives President Truman an honest count, even when it is painful. He fought gallantly for the civil rights program, beat off crippling amendments aimed at ECA, even went to a Republican caucus to plead for a liberalized D.P. bill. Not brilliant, he is a slogging, dogged fighter...
Vorys argued that since Europeans would spend at least $1 billion of the ECA money for U.S. agricultural products anyhow, his plan was simpler and certainly cheaper, for the U.S. would be able to unload some of CCC's vast surpluses of cotton, wheat, corn, dried eggs...
...Solborg signed three contracts that made good reading in any language. The biggest deal called for Armco to supervise construction and operation of Italy's first continuous strip rolling mill, at the Cornigliano steel plant near Genoa. The mill, which will cost $87 million, will be financed by ECA (32%) and the Italian government, and is one of the first joint attempts by ECA and U.S. private enterprise to help Europe's steel industry...
...meaning of "economic union" has already become a cliche--"integration of the European economy." Integration at first appears to be a vague word, but it has a very specific meaning to ECA administrator Paul Hoffman. He has defined it as "the formation of a single large market within which quantitative restrictions on the movement of goods, monetary barriers to the flow of payments, and eventually all tariffs are permanently swept away." This is a radical plan for an area in which almost every country now has restrictions on the volume of imports, rigid exchange controls, and long-established tariffs...
...Communists in France and Italy and the Low countries have muttered for three years at how ECA was an instrument for dumping America's surpluses. They have been wrong. Unless the House hurries up, it is about to brighten the lives of an awful lot of these Communists...