Word: eca
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...Into EGA. With the launching, ERP became ECA, the Economic Cooperation Administration. This week the President picked the man to run it: Paul G. Hoffman, president of the Studebaker Corp. and a top-drawer U.S. businessman (see col. 3). The job was no bed of roses; Mr. Hoffman wanted a little time to think it over...
Assisting and advising the administrator will be: 1) a $17,500-a-year deputy; 2) five members of the National Advisory Council on Fiscal Problems*; 3) a new Public Advisory Board of twelve U.S. citizens appointed by the President; and 4) a special representative abroad who would interpret ECA to the beneficiaries...
...will be some months before ECA is fully under way. Meanwhile the State Department would keep delivering relief to France, Italy, Austria and Greece and help such dollar-short nations as The Netherlands and Britain...
...Horizon. ECA's sailing orders were not explicit. The administrator was ordered to bring back strategic materials in partial recompense for U.S. deliveries. He was to see that none of the $5.3 billion, in the shape of potential war materials, filtered through the Iron Curtain, and that the 16 nations tidied up their economies in a way that suited the U.S. But he was given the widest latitude, chiefly because no one knew exactly how to plot ECA's course beyond the visible horizon...
Administration: By an Economic Cooperation Administration, headed by a $20,000-a-year administrator, a deputy administrator and a $25,000-a-year roving ambassador for liaison work abroad. ECA would be responsible for continuing reassessment of each nation's needs, would "work with rather than supplant existing agencies" such as State (on foreign policy), Agriculture (food), Commerce (allocation of items in short supply), the National Advisory Council (financial policy...