Word: fulbrights
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...second roadblock was thrown up during the maneuvering over Arkansas Democrat J. William Fulbright's Community Facilities Bill to provide long-term (50 years) public-works loans to small cities with low credit ratings. Fortnight ago, Republicans on Fulbright's Banking and Currency Committee (joined by Democrats Paul Douglas of Illinois, Allen Frear Jr. of Delaware and Willis Robertson of Virginia) trimmed the bill's total from $2 billion to $1 billion, upped the proposed interest rate from...
When the bill was called on the Senate floor last week, Fulbright doggedly introduced a 3% interest amendment. But Republicans pulled him up short a second time. They argued that the lower interest rate was a short-term rate unsuitable to long-term loans, defeated the amendment (41-40) in a straight party vote. But when the bill had been shaped to suit them, 20 Republicans shifted, helped pass (60-26) and send to the House the measure making loans available for small-town schools, hospitals, sewers, parks and recreational facilities...
...Base. During the debate over the interest rate, Bill Fulbright took off onto a new and unusual line of advocacy. Arguing for his 3% interest, he ticked off foreign nations that have fared as well or better with U.S. loans: "Afghanistan pays 3% on its mutual-security-program loan. Burma paid 2⅜ on an overseas surplus property loan. Nationalist China under the mutual-security program has been paying 3%." Cried he: "It is beyond my understanding why grants to that extent and loans for economic development in the amount of more than $41 million can be extended...
Rhodes Scholar Fulbright, who prides himself on his knowledge of foreign aid problems, well knew that a low-rate foreign loan or grant usually has security or political implications that play no part in U.S. domestic affairs. Snapped New Jersey Republican Clifford Case: "If it is impossible for the people of the U.S. to understand the reason for loans at lower interest rates to foreign countries . . . then indeed the security...
Thomas E. Crooks '49, Director of the Office of Student Placement, said that since the awards "trickle in slowly" during the spring, the total number of winners cannot be determined until late July. He predicted that approximately 100 Seniors would receive Fulbright...