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...

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