|
|
|
 |
|
George
C. Marshall, U.S. Secretary of State, Proposes
European Recovery Program
|
June
5, 1947
|
2:02
|
[title]
|
|
|
| |
If the
file does not automatically play, try clicking
here.
This file is available on CD500
|
|
|
|
Harvard
University, Cambridge, Massachusetts
On June 5, 1947, in an address at Harvard University,
Secretary of State George C. Marshall proposed a
plan to use American financial might to reconstruct
war-torn Europe. In the speech, Marshall stressed
that European countries should determine their own
economic needs and argued that U.S. aid should be
available to all European nations, including those
under Soviet occupation. The European Recovery Program,
commonly known as the Marshall Plan, was approved
by Congress and signed into law by President Harry
Truman in April 1948. Between 1948 and 1951, the
Marshall Plan channeled some $13 billion worth of
economic aid into 16 European countries. The program
sparked major economic recovery in Europe, particularly
in the chemical, engineering, and steel industries,
and saved the United States from a postwar recession
by providing a broader market for American goods.
The USSR denounced the Marshall Plan as U.S. economic
imperialism and prevented Eastern European countries
from participating. George C. Marshall was awarded
the Nobel Peace Prize in 1953. |
|
|
|
|
|
|
|
|
|
