Word: cotton
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Dates: during 1960-1969
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Born in Tempe, Ariz., a little agricultural town south of Phoenix, Finch was introduced early to political life by his father, a cotton farmer and one of a handful of Republicans in the state legislature. Three bad harvests in a row forced a move across the state line, and in 1930 Robert Finch Sr. took a job as a sales manager in San Francisco. Two years later, the family transferred to Southern California, where his son has lived ever since. Young Bob was deeply influenced by his father, and when he died of cancer in 1941, Finch struck out almost...
Their White House West will be Cotton Point, a spacious adobe villa in the resort town of San Clemente, 50 miles south of Los Angeles. The location appeared ideal for a presidential retreat. The weather is dry and sunny nearly year-round, offering a respite from muggy Key Biscayne summers. There is privacy; the house sits on 20 sequestered acres on a bluff between the ocean and the coastal highway. There is even the convenience of nearby Camp Pendleton, with a handy helicopter pad for presidential commuting...
Wooded Seclusion. The classic red-roofed Spanish house was built 45 years ago by Henry Hamilton Cotton, millionaire real estate developer and prominent California Democrat. His widow, now 90, still lives there. Cotton brought Mexican artisans to lay the tile floors and build furniture and thick, wood-pegged doors. The house encloses a warm, sheltered patio with a fountain, outdoor fireplace, lawn and shrubbery. All five bedrooms open on the patio. Nixon likes seclusion and is especially fond of a semicircular library, reachable only from an outside stairway. Wide living room windows overlook the ocean...
Rising Deficits. Textile imports from countries that use American management methods and technology-but pay lower wages-are swamping the U.S. market. In 1961, the U.S. enjoyed a trade surplus of $53.7 million in cotton, wool and synthetic fibers. Since then, deficits have increased steadily. Last year the imbalance climbed 60%, to $807 million. Today 47% of all women's synthetic-fiber sweaters and 46% of all wool sweaters sold in the U.S. are manufactured abroad. One of every three men's all-wool suits is made from Japanese worsteds, and a quarter of men's shirts...
...made-fiber textiles, the most rapidly growing segment of the industry since advancing technology gave the world wash-'n'-wear shirts and permanent-press pants. Although synthetics account for 54% of U.S. textile production, imports have swelled from $59.7 million in 1961 to $481 million last year. Cotton-textile imports, once a serious threat to U.S. producers, are regulated by a restraining agreement negotiated with 31 countries in 1961. Today they are of diminishing importance as more and more foreign textile makers switch to synthetics...