President Truman’s March 12th 1947 announcement to Congress that ‘It must be the policy of the United States to support free peoples who are resisting attempted subjugation by armed minorities or outside pressure’ was a direct response to London’s inability to continue with aid to Greece and Turkey following the British economic crisis of February 1947. America would have to take over Britain’s role. Truman thus sought Congressional approval for a $400 million increase in his budget for overseas aid: to secure the funding he presented the request in the context of a crisis of Communist
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