Under these circumstances, the American policy makers proposed only a small role for the Marshall Plan in Turkey. Truman’s, advisers felt that Turkey, whose economy had escaped physical damage during the war, would even be able to contribute toeuropean recovery by supplying urgently needed agricultural goods and minerals; thus what they believed necessary for Turkey was an allocation of machinery to stimulate production in those fields. However, in view of Turkey’s sizable foreignexchange holdings, Washington judged that this equip- ment should be provided the Turks on a cash-and-carry basis. In short, concessionary aid was omitted from the initial U.S. conception of how the Marshall Plan should operate in Turkey.