Title: What was the Marshall Plan?
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Content: An alternative plan to finance regeneration from massive German reparations – by Treasury Secretary Henry Morgenthau – was rejected. Marshall announced his Plan, not in Congress, but to students at Harvard University on 5 th June 1947. He explained his idea in simple terms: the European economy had been destroyed because the Nazis had reorganised it to support their war effort. Now, townspeople could not produce enough to afford to buy food from the farmers; and farmers were unable to get from the towns the equipment they needed to produce the food. the United States should do whatever it is able to do to assist in the return of normal economic health in the world, without which there can be no political stability and no assured peace. Our policy is directed not against any country or doctrine but against hunger, poverty, desperation and chaos. Its purpose should be the revival of a working economy in the world so as to permit the emergence of political and social conditions in which free institutions can exist. He challenged the countries of Europe to get together and produce a plan for regeneration, which the US would fund.