National Affairs: $7 Billion--But No More

Fred Vinson told the world last week exactly how the U.S. Treasury Department stands on foreign loans. In his Kentucky accent (which makes "barrers" out of "borrowers") the Secretary of the Treasury reviewed a program which will make the U.S. a creditor nation to the tune of $7 billion—but no more.

The fact that the U.S. is going to make large-scale loans was nothing new. The U.S. committed itself long ago to the theory that one way to peace is the way of international trade—"free from warring economic blocs and . . . barriers." That was the theory behind the International Bank...

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