FOREIGN TRADE: Needed: An Open Door

In the 15 months since it was first blueprinted, President Truman's Point Four program for developing backward nations has yet to get off the drawing boards. Last week, after a noisy debate, the House of Representatives finally voted $25 million as a start toward getting it under way (see NATIONAL AFFAIRS).

U.S. businessmen were not impressed. While the Administration dawdled and Congress argued, businessmen had boldly gone ahead with their own private Point Four plans. Despite currency and trade restrictions, shaky governments and threats to nationalize industry, U.S. businessmen had been willing to take chances.

Last week, for example, the first...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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