Word: ega
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...week long, the candelabra and chilled-wine circuit hummed with hostesses plotting and providing. Mostly it was the embassies that entertained the visitors; being conscious of the high importance of congressional favor, they also invited key Senators. Robert Taft's attempt to cut EGA authorizations (see The Congress) set off Senate debates which lasted until 11 p.m., and spoiled dinners all along Massachusetts Avenue's Embassy Row. Many a hostess who invited a Senator had to settle for just his wife...
...Cover EGA was one year and $5 billion...
...means to a practical end. It is an ideal way of spreading U.S. dollars abroad, so that the world can pay for U.S. exports. Last year American tourists spent $850 million overseas. Trippe preaches that if such spending could be multiplied, it would take much of the cost of EGA and other world recovery programs off the taxpayer's back and strengthen the U.S. as a trading nation...
Wallace explained why he thought EGA was a weapon of U.S. imperialism, and a failure to boot. After Wallace read his ten-page attack on U.S. policy, committee members had their innings. Sample dialogue...
...breathing hotly on its neck, the Administration was desperately trying to find a way of dealing with the glut. Congressmen considered several bills providing for the Government to take over-or build-more storage space. Secretary Brannan mulled the possibility of listing wheat officially as surplus. That would force EGA, which recently approved the purchase of 140 million bushels of Canadian wheat for Britain at lower than U.S. prices, to buy all its grains at home. EGA could ship more grain to Europe, since it could now buy more with the funds allotted. The Department of Agriculture lifted all restrictions...