Courtesy Reuters

IT IS now nearly 12 years since the provision of economic assistance to other countries on a regular and organized basis became an established feature of American foreign policy. Such assistance had previously been offered to Latin American countries and during and after the war to the devastated and distressed countries of Europe and Asia. With the promulgation of the Point IV offer in President Truman's Inaugural Message of 1949, the provision of assistance to other countries for their economic development lost its character of emergency relief. It became, instead, a settled arrangement for helping the less fortunate countries of the world

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