Word: barter
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...House approved and sent to the Senate a $1.3 billion program containing the Administration's request for authority to barter U.S. farm surpluses to Iron Curtain nations in return for strategic materials. The bill also allows the Administration to complete the second half of a $95 million agreement that provides for loans to Poland and payment in Polish currency for U.S. farm surpluses...
...FARM BARTER PROGRAM, by which U.S. since 1949 has contracted to trade more than $850 million worth of agricultural surplus for strategic materials from abroad, is being suspended, may be cut out entirely. Government thinks barter deals have displaced dollar sales of farm goods instead of creating new foreign markets, stepped up competition for domestic mining industry instead of reducing...
...Government is now reviewing the barter system, may curtail or even drop it. While miners would welcome that, they fear an end to stockpiling, which would increase imports and send prices down. Last week, before a meeting of the American Zinc Institute, Assistant Interior Secretary Felix Wormser said frankly that stockpiling, which last year scooped 15% of slab zinc output (an amount almost equaling 1956 imports) off an overloaded market, has met its goals and will end "in a matter of months." The only solution for the miners' troubles, said Robert Hendricks, vice president of the Consolidated Mining & Smelting...
Government coalitions make for "collective irresponsibility." There is always the minister's excuse that the necessity of compromise relieves him from responsibility for his action. The Cabinet has become a second Bourse for horse-trading and political barter, resulting not in effective compromise, but rather in mutual frustration and procrastination on important issues that might rupture the uneasy alliance of groups within the Government...
Most of the argument swirled around the "reserve clause," a device basic to baseball and other big-time professional sports. It gives the owner complete control over the career of an athlete, who is no less an article of barter than a bale of hay. The owners' case for the reserve clause is that it prevents wealthy owners from monopolizing all the best talent and thereby ruining the game as well as the gate. In 1922, and again in 1953, the Supreme Court, to the delight of the owners, ruled that baseball is a sport, not a business...