Word: exportable
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Dates: during 1930-1939
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From the German point of view, President Roosevelt, in trade matters, is a shady coin-clipper who cheapened the value of the U. S. dollar and thus "unfairly" reduced U. S. export prices on the World market. In Washington's eyes, the German Economics Minister and Reichsbank President Dr. Hjalmar Schacht is also shady because he does not similarly and frankly reduce the value of all German marks but, instead, has created an intentionally bewildering list of different kinds of marks. Each has a separate value and all are manipulated to Germany's trade advantage by Schacht...
Paradoxically Dr. Schacht chose to kill Germany's export trade with the U. S. as the easiest way to kill the U. S.'s export trade with Germany. For years these two forms of trade-normally independent of each other within limits-have been rigidly interlocked by the Nazis' iron rule that Germany buys only where Germany sells and in substantially balancing amounts. Therefore last week Dr. Schacht was not simply cutting off Germany's nose to spite her face but, in complex fashion, was cutting ultimate U. S. exports to Germany when he abruptly...
Standard Oil of New Jersey last week borrowed $85,000,000 for a period of 25 years. The money will be used to retire an issue of 5% preferred stock of a subsidiary called Standard Oil Export Corp. (TIME, May 18). Only $30,000,000 worth of Standard's new bonds were offered to the public, the rest having been bought by various Rockefeller interests including the Spelman Fund, the Rockefeller Foundation and the China Medical Board. But the most notable fact about this notable financing was that Standard borrowed the money at the lowest interest rate ever paid...
...distinction between governmental and private enterprise, advocating the return of relief to local agencies, making completely intelligible the party's stand on foreign affairs, as well as a host of other problems. Not unimportant either politically or economically will be the farm plank, and the substitution of a foreign-export subsidy for the present "conservation" subsidy, it must be remembered, offers no real solution...
Proceeds of the new bond issue will be used to retire the outstanding preferred stock of Standard Oil Export Corp., which was formed in 1928 under the Webb Act to handle the combined export business of Standard Oil and three subsidiaries. A non-profit organization, Export has only 100 shares of common stock, 40 owned by Standard Oil of New Jersey, 30 by Humble Oil & Refining, 25 by Standard of Louisiana, a New Jersey subsidiary, five by Carter Oil Co. Export's owners paid all expenses, guaranteed the big preferred stock issues. However, the new bonds are a direct...