Word: cottons
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...stock portfolio but left vague the question of its future management. On the question of the public debt, Adoula agreed to pay; Spaak offered a sweetener of $20 million in commercial credit to Adoula's near-bankrupt government, plus another $3.6 million for development of a Congolese cotton industry...
Flawed Memories. The first Cheever in America was a Puritan schoolmaster who was eulogized by Cotton Mather for "his untiring abjuration of the devil" and who believed that "man is full of misery and all earthly beauty is lustful and corrupt." Cheever's mother and her parents emigrated from England, and, he says, "there was a certain air of shabby gentility about the whole thing. I hate to speak about the twilight of Athenian Boston and all that, but Cousin Randall would play two Beethoven sonatas after dinner, and everyone would sit around and belch...
...issue, of course, is not how to make the price supports work--with other segments of the Triple Subsidy tagging along--but whether to have them at all. Here the answer must be clear: abolish them. They have kept the marginal cotton producer on his tiny, impoverished farm at a subsistence level while mainly aiding the big fellow; they have distorted the consumer's dollar in the marketplace by effectively rigging the prices of cotton goods. Here, as in most other agricultural price support programs, it is the low-income farmer and the low-income consumer who are helped...
...tendency of the Triple Subsidy is to insulate an entire sector of the American economy from the market's competitive pressures. This is as true for the giant, but declining, cotton textile firms, hardpressed by synthetic fibers and foreign imports, as it is for the marginal farmer...
...place of the monstrous program which the Senate has passed, there should be substituted a program of direct, income-supporting payments to cotton producers. This would at least eliminate the need for the export subsidy and for offsetting doles to the textile industry...