FOREIGN RELATIONS: IJc : More & More

When the Marshall Plan was launched two years ago, U.S. policymakers took a long look at the problems of Europe, gulped, and said the rehabilitation job could be done by 1952. This week, $11,461,438,000 later, a presidential task force headed by onetime Army Secretary Gordon Gray broke the news to Harry Truman that Western European nations would need economic aid until 1953 or 1954.

Europe's problems were a lot different from what they were in 1948, Gray reported. Industries were humming, trade (in most cases) was sound, and dollar balances were far beyond expectations. But now the demands of rearmament...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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