End of ECA

The U.S., which was once called isolationist, this week closed its books on history's greatest single act of international generosity: the Marshall Plan. In 45 months, ECA spent $12 billion--the equivalent of $80 apiece for every man, woman & child in the U.S.--to heal Europe's war wounds, to start up factories, and to rescue from fear, apathy and poverty millions of Europeans and Asians. Biggest beneficiaries: Britain, $2.8 billion,* France $2.3 billion, Germany and Italy $1.3 billion each. Tiny Holland--with an even $1 billion -- got more than the whole of Asia.

Though ECA is ended, the spending goes on under a new name and with a new purpose. The new outfit (headed by Averell Harriman) is the Mutual Security Agency; key word in MSA is "security" as "economic" was in ECA. In 1952, MSA will spend $6 billion, mostly in arms, in Europe alone. The U.S. taxpayer will hardly notice the difference.

*The $3,750,000,000 U.S. loan to Britain in July 1946 was not an ECA transaction.

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