Word: loans
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Dates: during 1940-1949
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Would Congress approve the $3,750,000,000 loan to Britain...
...argument in its favor. C.I.O. President Philip Murray thought it an "essential first step in expanding world trade in which American labor has a vital stake." Said U.S. Chamber of Commerce President Eric Johnston: "The American system of competitive capitalism cannot exist in a contracting world. . . . [The loan] will help create jobs for 5,000,000 U.S. workers...
...committee, ready to send the loan to the Senate floor, asked no questions. Said Chairman Alben W. Barkley: "Thank you, Mr. Fish. Your statement will be considered by the committee, when it gets around to it." That might be a long time...
President Félix Gouin this week described the U.S. as "the power which possesses the most considerable financial and industrial means." Blum would soon find out if the U.S. was willing to use those means for its avowed aim of reviving world trade. Major French wants were a loan of $2½ billion and a bigger share of German coal production (France's present allotment: about 10%). These, argued Blum, were essential if France was to take her place as a strong nation...
...Fairground." Blum was helped not a whit by Foreign Minister Georges Bidault, who tactlessly made explicit what everyone knew was implicit in the Blum mission-the contention that unless France got U.S. aid she would likely turn to Communism. Said Bidault: if France does not get a big loan "we would almost inevitably be compelled to organize our economic policy in other directions." The world knew "other directions" meant Moscow-ward...