Word: aid
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Dates: during 1950-1950
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Thirty months after Marshall aid began, Chancellor of the Exchequer Hugh Gaitskell last week had an announcement for the House of Commons: Britain could go it alone; Marshall Plan aid would be suspended Jan. 1, 18 months ahead of schedule. "Now we can begin to walk proudly again," said...
...billion in dollar aid had bought Britain time to work out a way of living within its income-austerely. British production had increased about 40% over 1946; the rate of dollar-spending in the first quarter of 1950 had been cut 25% from the first Marshall Plan year. Currently, U.S. stockpiling was bringing an unexpectedly large number of dollars into the sterling area, especially for tin and rubber. Britain's share of U.S. military assistance-still unspecified-would also help keep the dollar gap closed...
...dollar surplus could be wiped out by British rearmament costs or by a fall in exports. The London Economist gravely noted last week: "The ability of the postwar British economy to survive in competitive conditions remains untested." For this reason, Hugh Gaitskell had carefully stressed that Marshall Plan aid was suspended, not ended. Should it again be required before the end of 1952, it would be forthcoming...
...onetime school superintendent himself (in Beaverton, Mich.), Dean MacConnell thought he knew how to help his callers out. His scheme: a special School Plant Planning Department at Stanford which would not only aid small communities but would also give Stanford graduate students some first-hand experience in practical administration...
...Born a cobbler's son in Scotland, Fraser went to New Zealand at 26, rose from labor unionizing to Parliament to the cabinet. Dourly witty Teetotaler Fraser was admired even by his political enemies for bossing relief during the 1918 influenza plague, once selling his own furniture to aid the needy during the Depression, working for the welfare of New Zealand's Maoris. Last year, after a decade of mounting public resentment against government restrictions, a solid majority of voters ousted both Fraser and socialism...