Word: ccc
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Soldier's Pay. At first, the enormous change in the Navajos' way of life did not work insuperable hardship. During the prewar years, many a tribesman worked on CCC projects. After Pearl Harbor, more than 12,000 got wartime jobs off the reservation, and 3,600 young men went into the armed services and sent their pay back home...
...hours after the President's fluff, had already fallen off; trading had fallen 53% since the one-third cash margin rule was put into effect two weeks ago (TIME, Oct. 13). But the price of grain went right on rising. Next day, when rumors spread that CCC was about to step out of the market, the price of wheat fell off a bit, but continued its climb when the rumor proved false. So long as the Government bought, there was no reason for grain prices to go anywhere...
...question now was what to do with it. The CCC could be authorized to sell it below the parity price-at a loss of millions of dollars. Furthermore, British Commonwealth operators, determined to hang on to the U.S. market, would undoubtedly cut their prices below CCC's. U.S. wool-growers still clamored for Government support, which meant that more & more domestic wool would be dumped into the Government's lap, would have to be resold somehow, somewhere...
Hope Bill. Nevertheless, the Senate by a voice vote passed a bill proposed by Wyoming's Senator Edward V. Robertson, which directed CCC to go on buying wool through 1948, sell it at cut prices to meet the competition of foreign wool, and take the loss. The Robertson bill authorized $130 million to finance the program...
...keep the price up), has done most of the exporting for the U.S. since war's end. It has found cotton so hard to sell that it is now arranging to ship some 1,000,000 bales to Germany and Japan to get their spindles going again. But CCC kept mum on the price, gave no hint of when it expects to be finally paid off. CCC still has nearly 5,000,000 bales on hand-and few buyers...