Word: embargos
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Dates: during 1930-1939
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...When one considers the weaknesses of human nature and the realities of international life," said Dean Hindmarsh, "most of the plans for international economic sanctions appear to be extraordinarily potent means for universalizing war and conflict. The use of embargo measures by an allegedly neutral state against one of two opposing belligerents constitutes a breach of neutrality and renders the neutral liable...
...principal difficulty will arise with union; labor. The latter have always fought side by side with the projectionists. Many of the NRA codes could not have stood higher wage levels had it not been for the assurance that the embargo power would be used, if necessary, to keep out products manufactured in countries where lower wages and, by comparison, lower standards of living were in effect...
...holding the prices down for the consumer. Business will be put on its mettle as never before: the theory of competitive tariffs, namely that American producers will be expected to compete with foreign products and will not be always given what has amounted hitherto to the protection of an embargo, will come into its own once more...
Significance. So long as capital flowed to the U. S. in the form of gold Secretary Morgenthau did not have to worry about keeping the exchange value of the dollar down. But he was well aware that if France, frightened by the gold exodus, put an embargo on gold exports he would have to use his exchange fund to sell dollars. How many hundreds of millions of dollars he might have to sell to keep the dollar down no one knew...
Lamed Horses, Troubles on the Federal front also helped to send leading liquor shares into a deep, dark nose-dive on the New York Stock Exchange last week. First hint had come when a virtual embargo was clamped on liquor imports. It was learned that President Roosevelt had listened sympathetically to a Brain Trust idea of forming a government corporation to handle the entire wholesale liquor business. When the distillers submitted a code of fair competition, they saw it thrown in the wastebasket. Last week they were asked to accept a code, drawn by a special Roosevelt committee, which imposed...