By Henry Pelling (auth.)
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38 Harriman said that the ECA Missions in individual countries would deal with 'bilateral negotiations' such as the division of aid between grant and loan and the use of local currency funds. 39 At the end of June Harriman told Marjolin that OEEC could assume that the aid for the ensuing year would amount to $4875 million. 40 This was after an attempted cut by the House Appropriations Committee had been over-ruled by the Senate, which had heard an impassioned plea in favour of the full amount by Senator Vandenberg.
The participating countries would be expected to 'facilitate the procurement by the United States of ... raw materials ... for stock-piling purposes' and to 'deposit in a special account the local currency equivalent of aid furnished in the form of grants, to be used only in a manner mutually agreed between the two governments'. An Economic Cooperation Administration would be formed to administer the aid, headed by an officer appointed by the President but subject to confirmation by the Senate.
That day was a Saturday and there was also a public holiday in the United States on Monday 5 July. All this made it possible for the British Government to have its debate on the 5 and 6 July without interruption of the aid which had already begun to flow. The Commons debate was opened on 5 July by Cripps. 35 He said that 'the United States negotiators had showed themselves most understanding' of the European concern about the infringement of sovereignty. The term used in Article II (Financial Stability) that 'the Government of the United Kingdom will use its best endeavours' did not bind the Government to any specific measures at all - indeed the objectives mentioned were ones to which it was already committed.