Indianapolis Times, Indianapolis, Marion County, 9 December 1948 — Page 23
9, 1948
CELT
ETS WHITE 1S BRIGHTER
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Pay Dividends
.can be paid out of those local]
act of Congress sponsored by
lion in cash was paid on the spot,
EAPER rf TT had olsFeT
the debt to be paid in 30 years.
0 4 legations and consulates, buying \
~eign scholarships if they can
THURSDAY, DEC. 9, 1048 a
War Surplus Sales Abroad.
Exchange Fellowships.
Net U. §. a ‘Kitty’
By PAUL R. LEACH Times Special Writer "WASHINGTON, Dec. P=We're ¥ getting something back immediately out of the sale overseas. for $2 billion of surplus war property that originally cost much more, even If the buying coun. tries are unable to get U. 8. dol“tars for pay] ment, Hundreds of graduate students, professors, teachers and re-
will’ be going ; foreign coun A for the next 20 on ex-
years change fellow-
Mr, Leach ships. Each will go for a year. Thelr total expenses are paid im local currencies by the countries they visit, and charged against the surplus sale dollar debt. Provided in Act
Because of dollar shortages at home, only their transportation
currencies. Scholarships provided by American universities, organizations and individuals will take care of their dollar costs while in this country. All of this was provided im an
Sen. J. William Fulbright (D. Ark.), who was a Rhodes scholar at Oxford. When the war ended the armed forces, then the foreign liquidation section of the State Depart ment, began disposing - of surpluses abroad. This stuff included nearly everything under} the sun armies and navies could use, from tooth picks to bulldozers. Sales Net $2 Billion The sales to date have realized about $2 billion. .Some $500 mil-
fhe bilyers s ‘When they were no longer able]. to pay in dollars, credits were arranged for about $1 billion of
Out of the remainder, $160 million has been set aside under the Fulbright Act to finance the student fellowships The balance dué will be used by the State Department in’ buying embasgsies,|
food and other supplies for its offices abroad. Of the 42 countries buying surplus 24 are eligible for participation under the-student fellowship act,- but only eight so far have drawn up programs. All. Americans have the opportunity to. take up “these for-
qualify as graduate students, professors, teachers and researchers.
Copyright, 1948, by The Indianapolis T% and Chicago Daily. New Pine. es
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i THE. INDIANAPOLIS TIMES .
Pe TTT) - - de Typ
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