WORLD TRADE: Compromise Victory

In handling the House-passed foreign-trade bill, Senators did nearly all their bargaining in the Finance Committee and reached an escape-clause compromise (TIME, May 9) that was acceptable both to reciprocal-traders and to all but the most rabid protectionists. When the bill got to the floor, it had the support of the most influential Senators of both parties. Against such strength, the opposition collapsed. Last week the Senate passed the trade bill, 75 to 13.

Other Senate action:

¶ The Public Works Committee voted 8 to 4 to shelve President Eisenhower's highway-construction program. The committee then generally approved a substitute bill...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

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