Word: loans
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Dates: during 1950-1959
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...vote for the bill, he cried, was a vote for Dean Acheson. India was trying to blackmail the U.S. If it got the loan, it might share it with Russia. If the U.S. fed the Indians, it would soon have to feed "a train of other countries . . What a snare and a delusion . . ." he bawled, "the height of insanity. And it might be well to remember that India has 180 million sacred cows, and God in heaven alone knows how many sacred monkeys . . . All of these will have first claim on ... food ... we send India...
Symington then dipped for a bigger fish, and brought up Frank Prince, 54, assistant manager of RFC's central loan office, and a distant cousin of Alabama's party-giving Representative Frank W. Boykin, a millionaire Congressman whose standard line of greeting is "everything's made for love." Two years ago the Mobile Paper Co. asked for a $750,000 RFC loan. To get it, said Papermaker Reuben E. Hartman, he had to turn over 40% of the company's stock, with a par value of $640,000, to children, brothers and friends of Congressman Boykin...
...Hope. U.S. aid to Iran so far has been tiny, compared to Marshall Plan expenditures for Western Europe. The total to date: 1) roughly $60 million worth of military equipment, mostly U.S. surplus; 2) a $25 million loan from the Export-Import Bank, not yet drawn by Iran; 3) $500,000 under Point Four, mostly for locust-fighting equipment. A major development plan for Iran designed by a private-enterprise group of U.S. experts, Overseas Consultants, Inc. (TIME, Oct. 24, 1949), fizzled out because the Iranian government did not have the money to pay for it and the U.S. State...
...Voted at long last to provide 2,000,000 tons of wheat to famine threatened India through a long-term $190 million loan. It tacked on an amendment that India may repay in raw materials, but if so must include monazite, a fissionable material. Opponents of the amendment pointed out that India has a law against exporting monazite, and besides the U.S. has substantial supplies of it. Unmoved, Illinois' Republican Lawyer-Senator Everett Dirksen cried: "Always get your fee while the tears...
...Argentine products that the country lost a large part of its foreign market. Grafting and fumbling bureaucrats came close to wrecking the economy. The peso sank lower & lower. The cost of living mounted. Perón, who had once shouted: "I would cut off my hand before accepting a loan!" sent envoys to the U.S. early in 1950 to wangle a $125 million credit on admittedly tough terms...