Word: droughts
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...usual for the U. S. to have a favorable balance of trade-i.e., to export more goods than it imports. In the first quarter of 1937. however, because of the 1936 drought there were unusually large imports of agricultural goods which gave the U. S. an unfavorable trade balance of $113,959,000. Last year there was no drought and therefore U. S. trade figures for the first quarter of 1938, released last week by the Department of Commerce, again recorded a favorable balance. What was more, the balance was a sizable $320,662,000. Reasons for this were...
...departure of Iran's paper or silver money. Food prices doubled, taxes trebled. To meet clearing agreement promises, large stores of grain, rice, dried fruits, some needed for home consumption, were exported. In one area His Imperial Majesty decreed that cotton should be grown instead of wheat. Drought ensued, the cotton crop failed, and to make matters worse the world's cotton market just then fell. To the Iranian masses this meant extreme privation, to foreign visitors scenes in Iran's villages were shocking...
...streets and doorways, their bones almost sticking through their skins, their eyes seeming to pop out of their heads, lacking the energy even to brush away the swarms of flies covering their bodies. Scores of beggars greet incoming travelers. Still greatly flourishing is the opium poppy, which withstands drought, is immune from locust attacks. Despite the bustling, superficial prosperity of Teheran, all was not well last week in the Empire of the Shah-in-Shah...
...have made a deal with a neighbor for a subscription between us. He has first crack at it at three bucks, and I get it after he is through with it, for the remaining two bucks. In this drought area a man has to be cagey...
...farm didn't seem worth their while. In a few months much West African cocoa land was jungle again, and the price of cocoa went up. In 1936 there was slightly less rain than usual in the rainy season-what, for Equatorial Africa, amounted to a drought. Cocoa went up again. The natives, reflecting on the simplicity of economics, easily perceived that the less cocoa went to market, the higher went its price. For one wild day last year the spot price on the New York Cocoa Exchange was 13? a pound...