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Today in history: The plan to rebuild Europe
President Truman signed the Marshall Plan in 1948
 
Dignitaries at the Royal Victoria Dock in London welcome the first shipment of Caribbean sugar made under the Marshall Plan.
Dignitaries at the Royal Victoria Dock in London welcome the first shipment of Caribbean sugar made under the Marshall Plan. Edward Miller/Keystone/Getty Images

April 3, 1948: President Truman signed the Marshall Plan — which aimed to rebuild Europe after World War II. The $13 billion Marshall Plan ($120 billion in today's dollars) was named for Secretary of State George Marshall, who said Europe, devastated during the war, needed help getting back on its feet. The Marshall Plan did just that, while it also counterbalanced growing Soviet power on the continent. The Soviet Union, also devastated during the war, was also offered help; Premier Stalin refused to accept it.

April 3, 1974: After investigating President Nixon's finances, the Internal Revenue Service ordered him to pay $432,787 in back taxes and $33,000 interest.

Quote of the day

"The President is always abused. If he isn't, he isn't doing anything." — Harry Truman

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