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Economic Cooperation Act of 1948
The Act, also cited as the “Economic Cooperation Act of 1948”, (April 3, 1948) was passed by the 80th Congress, 2D Session. The act was “to promote world peace and the general welfare, national interest, and foreign policy of the United States through economic, financial, and other measures necessary to the maintenance of conditions abroad in which free institutions may survive and consistent with the maintenance of the strength and stability of the United States.” The Senate voted for passage of the Act 69 to 17 and the House 329 to 74. (Survey of United States Foreign Economic Cooperation since 1945 by David Cushman Coyle; New York: The Church Peace Union, 1957, 12).