Word: cottons
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Dates: during 1950-1959
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Abnormally Developed. Under their Five Year Plan, the Communists proclaimed that industry must be shifted from the old seaboard cities to new centers in the interior. One of the first moves: transplant Shanghai's textile mills, heart of the city's industry, to cotton-growing areas. Last spring came an even stiffer edict. "It is absolutely necessary to reduce the population," decreed the city's Communist People's Congress. The reported goal: 50%. Explained the newspaper Sin Wen Daily: "Shanghai was abnormally developed ... for the benefit of imperialism, bureaucratic capital and feudalism...
...installed as president of the American Society of Clinical Pathologists in Chicago. A nationally known expert in parasitology and the study of fungus diseases. Dr. Moss has a fascinating personal medical record. Born in Pearlington, Miss., she started life as a 3-lb. premature baby in a cotton-lined shoebox beside an open fireplace. Since then, she has overcome rabbit fever, acute gangrenous appendicitis, peritonitis, lobar pneumonia and mammary cancer...
...cotton prices, which suffered one of their deepest postwar price slumps (as much as $10 a bale) in the futures market a fortnight ago, took another blow last week. The cause: an estimate by the U.S. Department of Agriculture that, despite a 14% acreage cut ordered this year to shore up prices, the 1955 cotton crop will be 2% bigger than 1954's 13,696,000 bales. Good weather, increased use of fertilizer and close planting had boosted productivity; the average acre, by the department's estimate, would yield a "fantastic" 405 lbs. v. 341 last year...
Will this solve the surplus problem? Benson doubted it. Markets have shrunk, and surpluses are so mountainous that it will take more than a 4% acreage cut to reduce them. The Government holds more than 6,000,000 bales ($1.1 billion worth) of cotton bought in support of prices at 90% of parity, will probably have to take over another 2,000,000 bales of last year's crop on which it has already made loans. Special restrictions on resale of this cotton virtually price it out of the domestic market, which in any case has not grown nearly...
Foreign markets provide no solution. In the 1920's the U.S. exported an average of 7,500,000 bales annually, roughly 57% of world cotton exports. In the marketing year ended last summer, the high price of U.S. cotton cut U.S. exports to only 3,500,000 bales. The Government cannot even salvage part of its loss by selling abroad at cut prices; foreign governments and the State Department both vigorously oppose anything that looks like dumping...