West Germany: A Promise

On principle, the West Germans believe in foreign aid—it rebuilt their economy after World War II. But they have been annoyingly frugal about giving out any, even though their coffers have been filling with gold at the rate of $1 billion a year while U.S. reserves are shrinking. Last week, under heavy pressure from the U.S. to help stanch the drain on U.S. gold, West Germany finally agreed to ante up. After a chat between Kennedy and West German Foreign Minister Heinrich von Brentano, the West Germans announced a long-range foreign aid...

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