State Secretary Jimmy Byrnes had played for high stakes in London, with something less than average success. Last week, for future play in the European game, Harry Truman gave him a new stack of chips: control of surplus property disposal abroad.

By executive order, President Truman transferred to Jimmy Byrnes's Department of State:

¶ All functions of the Army-Navy Liquidation Commission, which has an estimated six billion dollars in surplus property in Europe alone.

¶ Control of U.S. participation in UNRRA, which has plans for distribution of $150 million worth of surplus property to European nations as relief.*

¶ Jurisdiction over...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!