Foreign News: Cheers

Chancellor of the Exchequer Sir Stafford Cripps, whose official utterances are usually the occasion for deep parliamentary gloom, last week brought a note of cheer to the House of Commons. During the first three months of 1950, Cripps reported, Britain and the rest of the sterling area had chalked up a dollar surplus of $40 million more than ECAid; it was the first time since war's end that the sterling area had been out of the red, and few M.P.s could repress their, cheers.

Although the cheers were justified, Cripps's dollar triumph was not an unqualified victory. Said the Manchester Guardian next...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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