Word: fea
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Fortnight ago it had become apparent that the Government's most active member of this team will be the Foreign Economic Administration. Last week Oscar Cox, FEA's general counsel, was still studying a letter drafted in the White House. The letter, from Mr. Roosevelt to FEA's boss. Leo Crowley, outlined the postwar duties of FEA. Cox, 38, whose hobby is mountain climbing, has a nimble and imaginative legally trained mind (M.I.T. and Yale Law School), which enables him to have a finger in every Washington pie. He wrote the first draft of the Lend-Lease...
...from its birth FEA's history has been one of dictation, though necessarily so because of its war function. It has dictated to private traders when & where they may ship their goods; it buys and stockpiles the millions of tons of strategic raw materials needed by the United Nations. This has given rise to some fears among private traders that FEA will not hurriedly cease its dictation. On this, the President wrote : "The Government should assist to the extent necessary to achieve this objective by returning commerce to private lanes as rapidly as possible." This indefinite promise alone stands...
...press conference, the President announced that he had written a letter to Foreign Economic Administrator Leo Crowley. The letter was a full set of instructions for FEA policies when the war in Europe is over, including a section on "Control of the War-Making Power of Germany...
...there had been no Cabinet battle over the Morgenthau plan, almost as if there had been no previous New Deal plans for Germany at all, the President urged FEA to accelerate its plans for the economic control of postwar Germany. FEA should see to it, the President said, "that Germany does not become a menace again...
...hole. It can blacklist all U.S. companies with Swedish affiliations, which have some $125,000,000-worth of assets in this country. This would permit the U.S. to cut off transfer of dividends and earnings to Sweden. At week's end, Leo Crowley's FEA was cautiously studying such a move. But the State Department gave the screw a turn. It added 38 more Swedish firms in neutral nations to its blacklist...