Word: bartering
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Dates: during 1950-1959
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...distributed outside normal trade channels.-In the U.S. the Agriculture Department expects to give away $170 million worth of surplus food this year to state welfare agencies and school-lunch programs. Now Washington is discussing plans to provide free food for similar programs abroad. Another idea is to barter farm surplus for goods and services that the U.S. Government would otherwise have to pay for in dollars. This week Japan signed an agreement to take $40 million worth of surplus food in part payment for U.S. purchases of arms and ammunition under the offshore procurement program (see below). The Agriculture...
...people, the U.S. should let it stew in its own juice. On the contrary, by the fruits of free enterprise the Russian people could learn to love freedom more, it was argued. And besides, such exports might give the U.S. a chance to make an advantageous barter deal, getting from Russia materials in short supply, e.g., manganese...
Lewis warned that U.S. foreign trade was falling off "substantially in the consumers' goods but perceptibly in the capital-goods industry." He brought forth a strange trade-policy recommendation for the world's leading economic power barter. "I don't think that Brazil has a right to take that $70 million which we give for coffee annually . . . without an agreement to spend an equivalent amount here. I think we have to modernize some of our trade relationships ... I don't know that we are going to be able to secure, at the best, an outlet...
...cheaper fuel. The sickness was happily concealed immediately after World War II because both European and Asian coal mines were out of commission, and the U.S. exported shipload after shipload of coal to fill the gap. Now foreign mines are going again, and no amount of barter could induce foreign purchasers to pay the price for, and the freight on, U.S. coal. And no greater damage could be inflicted on a shaky, free world economy than to saddle nations with high-priced U.S. coal. (It costs about $20 a ton in Japan...
...sell 500 tons of butter to Russia, and is dickering to ship even larger quantities of meat to Poland. Russian oil has begun to be sold in Italy, France and Argentina, and may soon be flowing in bigger quantities to Greece and half a dozen European countries currently negotiating barter agreements...