Word: pointing
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Dates: during 1940-1949
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President Truman's Point Four program for developing backward nations has been discussed at high policy levels for months. But it was not till last week that two congressional committees brought the talk down to earth. From spokesmen for U.S. business, which was expected to supply the know-how and capital for the program, the committees got some plain talk on what was needed to make the program work...
Nevertheless, said Holman, "as members of an industry that provided four-fifths of the private investment made by American interests abroad last year-totaling $1.5 billion-we are disturbed by the worsening of the investment climate in many countries." Holman thought that Point Four was certainly a fine idea-if it could be made to work. So did the U.S. Chamber of Commerce. This week it gave qualified support to the program-provided that the nations receiving the aid sign treaties "assuring fair treatment of American capital...
Hydrography & Health. To explain how Point Four might work was the job of Under Secretary of State James E. Webb. Last week he appeared before the House Foreign Affairs Committee to push an Administration bill clearing the way for $35 million worth of technical assistance, ranging from hydrographic surveys to health advice, to get the program started. Webb's vague generalities on how the program would stimulate world trade and hence the U.S. economy were not the blueprint the committee wanted. Snorted Ohio Republican John M. Vorhys, critic of foreign spending: "Rube Goldberg must have been your consultant...
Faith & Hope. Nelson Rockefeller, who with his brothers has launched his own private Point Four program in South America (TIME, Jan. 31), testified that he was also wholeheartedly in favor of Point Four. It was the promise of renewed "faith and hope that free peoples can work together . . . We cannot go on indefinitely subsidizing our exports by giving away dollars...
...shutdown gave K-F dealers, whose sales had been lagging, a chance to cut down the supply of cars' on hand, it also gave Wall Streeters a scare. K-F stock, which had tumbled from 15 5/8 to 3 3/8 in 21 months, dropped another s of a point to a 1949 closing...