Word: cottons
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...undefended Stevens workers suffer terrible working conditions, chronically low wages and starvation-level pension payments. Thousands are slowly dying of the disease byssinosis, or brown lung, caused by cotton-dust levels three times higher than standards set by the federal government. Stevens employees are paid at rates 31 per cent below the national average for factory workers. Retired Stevens workers then spend the last years of their lives in poverty. One man who had worked at a Stevens plant for 40 years was rewarded with a pension of $15 a week...
...pledge to hold the federal budget for fiscal 1979 within the targeted $60 billion range. That would at least imply a threat to veto any spending bill that seems likely to push the deficit higher. Leading candidate for a Presidential turndown: a farm bill that would pay grain and cotton farmers subsidies on an escalating scale for keeping land out of production. The prices that Americans pay for food are likely to rise 6% to 8% this year; the Administration calculates that the farm bill would tack perhaps another three points onto that increase. The bill cleared a House-Senate...
Unlike commodity futures, which are contracts that give an investor the right to deliver or receive gold, cotton, pork bellies or whatever on a set date at a fixed price, commodity options are purely paper investments giving the buyer the right to purchase a future, gambling on how much prices rise or fall. In the U.S., such options have had the tempting flavor of forbidden fruit. Since the 1930s, trading in some 100 types of options, mainly agricultural products, has not been allowed on U.S. exchanges. But in recent years some inventive firms began selling in the U.S. options supposedly...
...last month that will add $120 to $170 to the food bill of a family of four in the next fiscal year. As a counter to that expensive bill, President Carter last week recommended higher wheat subsidies and for the first time since the early 1970s offered corn and cotton subsidies to farmers who reduce plantings, which will surely raise food prices. There is no excuse for subsidies, despite some farmers' noisy threats of "strike." Farm prices have risen 13.9% since last September, and some food prices will shoot through the roof this spring be cause foul weather...
...upheavals created by the forced relocation and nationalization have pushed Tanzania's economy toward bankruptcy. A lack of consumer goods has encouraged well-organized smuggling; huge quantities of Tanzanian coffee, tea, cotton and cattle clandestinely find their way to free markets in neighboring Kenya. Peasants who have to rely on the state-run distribution network spend days carting their harvests to central crop-collection centers. Once there, they often camp for weeks, sleeping atop bales of cotton or mounds of corn, waiting for cash payments to arrive from Dar es Salaam...