Word: eca
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Congress would create a new Cabinet post, the Secretary of Administration, who would supervise some of Washington's most important independent agencies, such as the Bureau of the Budget, the Civil Service Commission, the Atomic Energy Commission, ECA. And the Vice President would be this new tenth member of the Cabinet...
...Washington, Dennis A. FitzGerald, chief of ECA's food division, hopefully predicted that the unexpected production would permit "appreciably larger" grain exports to Europe. Commerce Secretary Charles Sawyer took sharp exception. Said he: "The emphasis is now on recovery, not on relief . . . It may now be time to give some attention to the interests of the American housewife...
Hoffman briskly nailed down the Communists' long-standing charge that ECA was a U.S. plot to divide Europe, by urging "the greatest possible stimulation of trade" between Western and Eastern Europe (except for military items). He underlined his point by allotting ECA dollar credits for purchases in Czechoslovakia and Finland. Asked about Polish coal and Yugoslav lumber, Hoffman answered: "We want you to buy in Europe, whether or not it's behind the Iron Curtain...
When will the new upsurge reach its crest? Looking at the new increase in domestic demand, most businessmen thought the crest was still months away. And the economy has yet to feel the impetus of ECA. When it comes, businessmen feared it would bring material and manpower shortages that would curb production and thus run up prices still more...
...Ropes. ECA Administrator Paul Hoffman offered U.S. business inducement to help get Europe off the ropes. The Government, he said, would guarantee (up to $300 million) private U.S. investors in ECA countries against arbitrary currency restrictions (but not against ordinary business risks...