THE AMERICAS: Congressman v. Secretary

At bougainvillaea-spangled Petropolis, Brazil's traditional summer capital (see above), Latin American delegates to the inter-American economic conference last week opened their campaign for a massive new program of help from the U.S. (TIME, Nov. 22). The response was a blend of sweet reasonableness and polite standoff from U.S. Secretary of the Treasury George Humphrey. The Latinos wanted price floors for the raw materials they supply the U.S.; Humphrey countered that "We as governments should reduce . . . our own intervention in the fields of commerce and industry." The Latinos wanted outside financing totaling $1 billion a year; Humphrey...

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