Word: butter
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Dates: during 1940-1949
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...sudden action meant the end of 51 laws, although actually it was only a beginning in the process of dismantling the machinery of war. Selective Service still remained. Nearly 500 emergency control measures-covering everything from butter substitutes for patients at St. Elizabeth's Hospital in Washington, D.C., to death sentences for deserters-still stand. Before the U.S. has been restored to a full peacetime basis, the President (or Congress) must terminate the states of "limited emergency" and "unlimited emergency"; and Congress must terminate the "state...
...Guessing. Caniff's house on Tor Ridge, a spectacular modern affair-designed and owned by Neighbor Henry Varnum Poor, was a port of call for scores of flyers during the war. The tabletalk kept Caniff abreast of servicemen's slang; the grateful flyers paid their bread-&-butter calls by buzzing the house. As a favor, the Army flew him across the U.S. in a jolting 6-24, to give him the feel of it. He can "still hear the nyaaa-aaaa-aaaa of those motors-and feel the cold, going on hour after hour. Jeez, it was cold...
...League Co-operative Association, representing some 50% of the 44,000 milk producers in the six-state New York milkshed, thought it had done such a smart piece of work that it bragged of it. The league proudly admitted that it had rigged New York's butter market (TIME, Jan. 6) in December to keep milk prices up. (Under a federal-state marketing formula, this milkshed's January prices would largely be determined by the prices of butter for the 30 days ending...
...criminal information under the Commodities Exchange Act, charging the league and four of its topmost officers with illegally manipulating a commodity in interstate commerce. Maximum penalty: a $10,000 fine and one year in jail. To boot, the Department of Justice was making an antitrust investigation of the butter collapse, and the Department of Agriculture was considering a move to cut the January milk prices...
True Top? To U.S. consumers generally the big news in the butter scandal was that retail prices of butter, and many another staple, were at last going down. Prices of canned citrus fruits fell one-third in some cities. In Florida and Texas, prices of citrus fruits were down 50% to 60% from last year, as a bumper crop was harvested. The glut was so great, and prices so low, that packers and growers slapped a temporary embargo .on shipments, trying to keep prices up in northern markets. Eggs were down generally 3? a dozen; meat and lard dropped...