The carpenters, the smiths and the State Department Noahs hacked and hammered away last week building ERP,* the ark, to float Europe out of the deluge of its economic misery.

Councilors hauled in reports. Conferees fashioned policies. Committees nailed together legislation to submit to Congress. Other little arks were knocked together: ERP would actually be a flotilla by the time it was launched. Within two or three weeks after Congress convened on Nov. 17, the Administration hoped to have its whole program for aid to Europe and the world ready to go down the ways.

The flotilla would look something like...

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!