Word: loans
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Dates: during 1940-1949
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...Matter of Imagination. There were other possible adjustments, on which the British and American climates did not yet agree. It was most improbable that a U.S. loan would be asked or offered. It seemed that no concrete plans to reduce British production costs and increase industrial productivity would be laid on the conference table...
...problem was that Lustron needed an additional $14.5 million. But with that, most of RFC's allotment would be spent, and even then Lustron's success was uncertain. If RFC refused the new loan, the $37.5 million lent was down the drain. While RFC waited for a suggestion from Congress, Lustron made some savings. It laid off 600 workers, partly because it had some 400 houses on hand and wanted to sell them before producing any more...
...turn was allowed to sell 49% of its shares to private investors; the other half was underwritten jointly by four northeastern states, municipalities, private corporations and individuals. For added capital, CHESF is counting on additional government money and is looking to Washington for a $15 million World Bank loan...
...Backbone. As the conference approached, the U.S. press sat up and took notice. It was natural that most U.S. papers, from the polite New York Times to the loud-roaring Hearst press, should pointedly recall the $3.75 billion U.S. loan to Britain, which the British had long since run through, and more than a billion dollars worth of ECAid, which had kept the British going so far. It was also natural that the press of a capitalist, free-enterprising democracy should blame Britain's Socialist government and its works (e.g., nationalization of coal and railroads, the billion-dollar...
...some of it was unfair; a great deal more was sound and factual, and it could have given British readers a close view of their plight, which they appeared never to have gotten so clearly from their own press or their government. Britons who, when they got the U.S. loan, complained that U.S. prices were too high (and would cut down the amount of goods Britain would be able to buy in the U.S.) now cried that U.S. prices were too low; British manufacturers could not compete with them. Other Laborite headlines: "Stop the Sneers," "Warning to Americans," "They...