PRIVATE CAPITAL ABROAD
REGARDLESS of the drive to cut the Administration's $3.9 billion foreign-aid programand the chances are that it will be cut deeplymany a businessman feels that it is high time for a new and different approach to foreign aid. The most promising: encouraging greater activity abroad by U.S. private enterprise. Secretary of State Dulles told Congress that the Administration would prefer to see private capital eventually replace foreign-aid funds in overseas economic development. So far, however, the Administration has presented no overall plan for encouraging a greater flow of U.S. private enterprise abroad.
Private capital cannot, of course, supplant the...
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