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April 3, 1948: President Truman Signs the Marshall Plan
On this day in 1948, President Harry Truman signed the European Recovery Program, also known as the Marshall Plan.
The Marshall Plan was proposed by Secretary of State George Marshall. Through the plan, he aimed at helping reconstruct Europe after the economic devastation it had undertaken due to World War II.
From 1948 to 1951, the United States provided $13 billion in aid. Nevertheless, the USSR did not allow some eastern European countries to receive aid and gave rise to the Iron Curtain. Overall, the Marshall plan helped improve economic stability in Europe as well as grow American markets.
Learn more about George Marshall with WWII: Behind the Closed Doors.
Image (from top to bottom): President Truman surrounded by Congress and members of his Cabinet c.1948 (Library of Congress), Poster promoting the Marshall Plan (George C. Marshall Foundation), First page of the Marshall Plan (National Archives).