ECONOMICS: The Dollar Follows the Flag

The world was not for sale. The U.S. could never, by gifts or loans or food shipments, win the nations to democracy. Yet Washington and the world last week moved measurably closer to another truth: dollars could have a natural and necessary relation to democracy. The wealth produced by U.S. enterprise could be used to foster democratic enterprise in other lands.

More depended on how loans were made than on how big they were. It was not a simple issue between a generous and a sharp loan policy. Three U.S. loans were in the...

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