Word: cottons
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Dates: during 1950-1959
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...momentum by the minute. Lights burned late at State. the Treasury Department, the Pentagon. The British ordered drastic economic sanctions designed to bring Nasser down. Unofficially, Britain hoped the U.S. would not only follow suit, but would cut off further aid to Nasser and perhaps disrupt Egypt's cotton market by dumping U.S. surplus cotton abroad (a move that would also disrupt such cotton-growing friends as Mexico and Brazil). The French were talking of a military landing. All seemed to hope mightily for support from the U.S. Sixth Fleet, which was not promised...
...Nasser had already pledged his country's cotton crop for years to come to pay for his Communist arms. Moscow last week made it plain that it was not willing to finance the dam, even though it had let Nasser blackmail the West with the threat of a Soviet counteroffer. Now Nasser stood exposed. Even his brother Arabs privately agreed that he had asked for the trouble he was in. All this was vexing to 38-year-old Gamal Abdel Nasser, who is a proud...
Some form of economic sanctions was plainly in the.works. Carried far enough, it could probably come close to wrecking Egypt's economy. The U.S., for example, by dumping its surplus cotton, could ruin the world price of Egypt's only significant source of foreign exchange. The danger was that really effective sanctions would drive Egypt further into the embrace of the U.S.S.R. (Nasser is scheduled to go to Moscow this month...
Sunbathed Neutrals. The Dulles decision won hearty approval in Congress, where cotton-state legislators are nervous about cotton-growing Egypt and where Zionist spokesmen have held Nasser to be the Middle East's archvillain. The Sen ate Appropriations Committee earlier had been so bold as to "order" Dulles not to make the Aswan loan from Mutual Security funds. Dulles firmly resisted such an unconstitutional demand. But the whole argument became academic when Dulles decided, for foreign policy reasons...
SOIL BANK plan to cut surplus in six basic crops (corn, cotton, wheat, tobacco, rice, peanuts) is off to slow start. Agriculture Department reports that farmers have signed up to take only 2,000,000 acres out of production at cost to Government of $37 million for this year's bank. Goal for next year is 8 million to 15 million acres in bank, with long-term target of 25 million acres annually...