Word: mccloy
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...civilian Harry Truman wanted for the job was playing hard to get. But Washington expected any day to hear that able John J. McCloy had quit his $30,000,-a-year, tax-free post as president of the World Bank to become U.S. High Commissioner for Germany. General Clay would leave this week, whether or not the appointment was certain. He was anxious to get down to Georgia for some catfish-ing and the comforts of retirement...
...assistant, publicity-conscious Louis Johnson surprised everybody by picking a publicity man: Franklin D. Roosevelt's old press secretary, Stephen T. Early. Congress had newly created the job of Under Secretary of Defense to give Johnson a workhorse general manager. (World Bank President John J. McCloy was offered the job, but turned it down.) Whatever Steve Early might lack either as an administrator or as a military mind, he certainly made up in priceless savvy about the ways of Washington...
...Behind. Proud as any small country bank, the International Bank for Reconstruction & Development announced that it had come profitably through its salad days. In nine months, President John J. McCloy had turned the World Bank's $1,063,805 deficit into $1,178,792 profit. Chief income: interest on $497,000,000 in loans to France, The Netherlands, Denmark and Luxemburg...
...work at Bogota, there will be top-flight statesmen on the job. Crisis-harried George Marshall will head the U.S. delegation, with Cabinet-rank support from Commerce Secretary Averell Harriman, Treasury Secretary John Snyder. Export-Import Bank Chairman William McChesney Martin Jr. will be there, and John J. McCloy, World Bank president, though not a delegate, plans to be on hand. The diplomatic backfield will be sparked by Assistant Secretary for Political Affairs Norman Armour...
Substantial Change. What that meant was becoming increasingly clear. Even Arthur Vandenberg was privately convinced that the Administration's bill could and would have to stand substantial change. He had already publicly tipped his hand by agreeing with a suggestion of World Bank President John J. McCloy. The proposal: that ERP include a formula for "progressive credits"-i.e., make the amount of aid extended dependent on the rate of the economic recovery...