Word: embargoing
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Dates: during 1930-1939
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...world's biggest importer of steel scrap, Japan is wholly dependent on the U. S., which is the only large industrial nation with no scrap export embargo. Last week the Department of Commerce announced that scrap shipments during 1934 had reached an all-time high of 1,835,554 tons against 773,000 tons the year before. Of this total export 1,168,000 tons or 63% had gone to Japan. Italy, which like Japan suffers a shortage of good iron ore, was next biggest buyer with 225,644 tons. Great Britain was third with 134,434 tons...
...action. They point to the fact that Japan's sharp increase in scrap buying (500% in three years) has taken place since 1931, when fighting began in Manchuria. Hence some members of the Senate Munitions Committee, which is currently investigating Japanese purchases in the U. S., favor an embargo on scrap exports...
...last session of Congress President Roosevelt vetoed a bill to prohibit export of tin-bearing scrap. Scrap dealers expect new agitation for an embargo at this session, are confident that President Roosevelt will oppose it because he is trying to develop export trade. But last fortnight, Raymond Moley, the President's friend and counselor, published as the lead article in his magazine Today a sharply critical analysis of Japan's scrap buying by Ray Tucker, longtime Washington newshawk. Reporter Tucker concluded that Japan's demand for scrap was unmistakably for the purpose of 1) modernizing her army...
...result of this, the arms embargo is now lifted from Bolivia but maintained on Paraguay. What will be the result? These South American belligerents have shown themselves capable of sustained if not always active warfare. Six months of unrestricted access to military supplies may well resuscitate Bolivia. If so, we will find that the League has not only lost another member but has inadvertently aided in prolonging the hostilities...
...Unless the U. S. stopped deflating China's currency, she might be forced to switch from silver to gold. She could do this because the Central Bank of China has shipped no gold since August, has built up heavy reserve stocks, could increase these stocks by declaring an embargo on silver and selling silver through the Government to buy gold. Bankers familiar with the East were sure that such a plan would not work. Any drastic change in China's financial structure would probably provoke a revolution. The Nationalist Government is not strong enough to prevent the smuggling...