Word: barter
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Since Iran was bent on proving her independence, lean pickings were in store for British advisers, British business. Ships were ordered from Italy and Italian officers were engaged to teach Iranian landlubbers theories of navigation. Barter trade was established with Soviet Russia and German goods began to pour into Iran under a clearing agreement arranged by the wily Dr. Hjalmar Schacht. Among the first arrivals were 100 German warplanes for the Iranian air force. Danes. Czechs...
...Swap El Salvador, a knot on the geological cord joining North and South America, is a one-crop country-coffee forming about 95% of her exports. Since 1935, with the coffee market glutted, she has disposed of her crop largely by barter with Germany, getting textiles, hardware in return. Last week the 13,173-sq. mi. nation, the size of New Jersey and Connecticut, decided she needed airplanes for training purposes, for ferrying army freight over her mountains and for remote control over rebel bands in the interior. There appeared to be no better way to get them than...
...That the two nations may form a customs union is now highly probable. Since the Austrian schilling is fairly sound money, whereas the German mark is artificial in the extreme, the two countries will have a tough currency transfer problem on their hands, probably to be solved by the barter methods of Dr. Hjalmar Schacht. In the end, an economic unit the size of small Austria and big Germany combined ought to be a much sounder proposition than a unit only the size of Austria...
...deal with Nazi Germany. The American dollars are then forwarded from London to Germany thus allowing the Nazi regime to build up its foreign exchange balance. Meanwhile, Germany buys the Rumanian furs, paying for them in lei that were placed to its credit in Rumania as a result of barter arrange- ments. ... As the Rumanian money has little value in the foreign exchange marts, the German Government gains materially by an exchange of this money for American exchange...
...balance the budget (TIME, Aug. 23). With coffee about 80% of her exports, agricultural El Salvador depends for its revenues on a favorable foreign trade balance. Chief coffee customer is Germany. While crying for cash, El Salvador has instead been stuffed with German hardware, cotton textiles through the bludgeoning barter methods of Reichs-banker Schacht. No gold has been coming in to pay off the $18,000,000 external debt hanging over her head. To El Salvador, whose yearly revenue is $7,000,000, this looks mountainous...