Word: bolivian
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Like two opposing field commanders discussing a truce, Bolivian Ambassador Ricardo Martinez Vargas and RFC Administrator W. Stuart Symington held an important conference in Washington last week. After four weeks of polite parleying, they came to terms: Bolivia agreed in principle to sign a 30-day contract to sell her tin to the U.S. at $1.12 a lb., subject to the approval of the big Bolivian tin producers. The terms added up to a notable victory for Symington, who has been fighting a two-front war for lower prices for tin and other raw materials. One front is against Bolivia...
...series of blunt sessions with the State Department, Symington stuck to one principle: if the State Department wanted to bolster the Bolivian economy, it should get a foreign aid appropriation from Congress. It had no right to expect him to exact an artificial subsidy from U.S. consumers...
Hazy Figures. To find a fair price, Symington and State sent a joint commission to Bolivia last month. The commission discovered that the Bolivian government had only hazy figures on tin production costs. In effect, the producers started out with a selling price, such as $1.50 a lb., then "justified" it by arbitrarily setting their costs, e.g., labor and equipment, 53?; taxes, 54? dividends, 18?. Since labor costs were only 23% of the selling price, Symington argued that the tin barons and not the workers got the benefits of high prices. (Average Bolivian income is 1/40th of average U.S. income...
...they try to give TIME-readers news stories which tell the ways in which people with different cultural heritages think, act and live. Much help in this effort comes from the stringers, who are usually citizens and top journalists of the countries they cover for TIME. Among them are Bolivian Columnist Walter Montenegro, Chilean Radio Commentator Mario Planet and Peruvian Correspondent Thomas A. Loayza, a veteran of such varied assignments as the Spanish Civil War and the eighth Pan-American Conference...
...Bolivian government has not done much about the problem either, but this summer a labor delegation from the Catavi tin mining region called on President Urriolagoitia and asked that the sale of alcohol be prohibited or limited in their area. As a result, the government forbade the sale of liquor within twelve miles of the Catavi mines. This act might stimulate tin production, might also stimulate activity outside the twelve-mile limit...