Most expensively wooed friends the U. S. State Department has are the 20 Latin-American Republics. From the beginning of 1939 to last September, the U. S. Export-Import Bank authorized loans of $143,000,000 for Latin America. Two months ago the Bank was voted another $500,000,000, has begun lending that, for projects ranging from $20,000,000 for Brazil's proposed new steel industry
(TIME, Oct. 7) to a $4,600,000 loan to Costa Rica to help finance the Pan-American Highway. Since some of these loans will prove as sour as did the J. & W. Seligman Peruvian...
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