Word: loan
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Dates: during 1940-1949
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...made one point with which Arthur Vandenberg would agree: "Republicans were hardly called in on important new proposals like the Greek loan and the Marshall plan until the policy itself had been formulated. . . . They were merely asked to go along...
...chummy note to "Lew," World Bank President Jack McCloy suggested to his brother-in-law Lewis Douglas, U.S. Ambassador to Britain, that the World Bank might provide funds for Ruhr reconstruction. But since Germany is not eligible for a World Bank loan, a way would first have to be found to get around the bank's legal restrictions...
...bottom, the crisis was economic. Britain was still a land of national hunger. British labor, especially the all-important miners, were simply not producing in sufficient volume. Britain was buying more goods abroad than she sold; the money with which to make up that deficit (the $3.75 billion U.S. loan) was running out much faster than it should; Britain had only $1 billion left and it was going fast. But suddenly from the steadily mounting pressure of impoverishment sprang a political crisis...
...Paris flew Sir Stafford Cripps for a conference with U.S. Under Secretary of State Will Clayton on the leftovers of the U.S. loan. The shocking fact: if Britain keeps withdrawing funds at the present rate, nothing will be left by September. Two of the loan's agreements add to the-dollar drain: 1) the "nondiscrimination" clause, which forces the British to buy goods in the U.S., for dollars, which they might get elsewhere more expensively but for pounds; 2) the "sterling convertibility" clause, which forces the British to convert into dollars some of the sterling credits held by foreigners...
...high point came at the Quai d'Orsay when Evita watched stout, perspiring Argentine Ambassador Julio Victorica Roca sign a French-Argentine commercial treaty granting France a loan of 600,000,000 pesos ($150,750,000). It would mean a lot more wheat. It would mean, too, more beef. One French commentator quipped unkindly: "Madame Peron will be made palatable to the French workers and peasants by being dressed as a piece of Argentine frozen beef...