Word: exportable
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Dates: during 1950-1959
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Last week the U.S. Export-Import Bank lent Japan $60 million to be used for importing more raw cotton from the U.S. The loan was one part of a broad program designed to boost both overseas and domestic consumption while holding down production. The goal for 1956-57 is a 20%-25% increase over total cotton sales in 1955-56 by doubling exports to 4,500,000 bales while keeping domestic consumption at last year's 9,200,000-bale level or even increasing it. With flexible price supports between 75% and 90% of parity, Agriculture Secretary Ezra Taft...
...Heavy exports of cotton at world prices may reduce U.S. raw-cotton supplies, but they will also boost foreign production of cheap finished textiles-to the detriment of competing U.S. manufacturers, who still pay U.S. prices. The Government's answer is still another program: textile exporters will get a 6.58?-per-lb. subsidy on cotton products made for export, will thus be able to cut prices to compete in world markets...
Ever since, business has been booming, though Gentili has been blacklisted by the U.S., and the Italian government refuses to grant him import or export licenses. He has built a fortune by arranging deals between China and Italian suppliers. Through Gentili they ship textiles, chemicals, Pharmaceuticals and other nonstrategic items, although the Milan right-wing daily, La Patria, charged that Contact Man Muratori is "a notorious trafficker in strategic materials to the Soviet bloc." Gentili repays the Reds doubly for his virtual monopoly by pouring much of his profit into the treasury of the Communist-lining Italian Socialist Party...
Political Inflammability. Along with political difficulties, Ponce will have to cope with an ailing economy and a near-empty treasury. The nation's income from exports (bananas, cacao, coffee) fell off this year. President Velasco ran up deficits by spending lavishly for public works and-to keep the army contented-for military equipment. The government owes public employees back pay, is half a year behind on loan repayments to the World Bank and the Export-Import Bank...
...month after his return to St. Louis, Martin was asked by War MobiMzation and Reconversion Chief John Snyder to join the Export-Import Bank as a director. Within a year Martin was appointed Ex-Im chairman (at $15,000), presided over the bank's expansion of capital to $3.5 billion. Determined not to allow the bank to become a handout window, Martin once refused to make a loan to China that had been requested by General George C. Marshall, then Secretary of State, insisted that he would never approve a loan unless it were economically sound. In 1948 Martin...