Word: frees
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Dates: during 1950-1959
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...balanced budget was urgently needed for its symbolic value. If the chronic price upcreep of the mid-1950s came to be tolerated as inevitable, he warned, it could inflict severe damage on the economy by eroding the confidence in the future that is essential to the workings of a free economy. By taking a stand for a balanced budget, the Administration would show that it intended to fight against price upcreep...
...Anderson's goal is to make aid to underdeveloped countries a cooperative free-world undertaking. At the World Bank-IMF meeting in New Delhi in October 1958, Anderson sponsored a proposal to increase World Bank funds by doubling the member nations' commitments to guarantee World Bank bonds. At the same meeting, Anderson unwrapped a U.S. plan to set up an International Development Association (with the U.S. contributing one-third of the capital) to make loans that, unlike World Bank loans, would be repayable in the borrowing country's own currency, no matter how soft. At the World...
TRADE. Anderson's drive to get other industrial nations of the free world to lower their trade barriers against U.S. goods has already brought dramatic results. At the late September meeting of the World Bank-IMF, Sweden's Per Jacobsson, managing director of IMF, agreed with Anderson that the "new situation' called for a "fresh examination" of international economic policies. The IMF executive board urged member nations with adequate gold and dollar reserves to end discrimination against U.S. goods "with all feasible speed." A few days later, the meeting of the 37-nation General Agreement on Tariffs...
...Greatest Challenge. In pushing toward broader aid and freer trade, Anderson is serving, as he sees it, not only the interests of the U.S. but the interests of all the free world. In his global view, his policies at home and his policies abroad are interdependent, just as the U.S. and the rest of the free world are interdependent. By fighting for sound money at home, he can encourage freer world trade by keeping the world's reserve currency, the U.S. dollar, dependably stable. By persuading Western Europe to assume a fair share of the foreign-aid burden...
...What we have to do," says Robert Anderson, "is to maintain a strong and expanding economy, to accept the position of world leadership, and in that role to contribute as significantly as we can to a strong and expanding economy in the free world. Only thus can we help the development of the underdeveloped countries of the world. And that is the great economic challenge of our time...