Word: exportations
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Dates: during 1940-1949
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Hand-to-Mouth. British industry was in no holiday mood, either. "If there is any letup in production," said Sir Stafford Cripps of Britain's export-or-die program, "we shall come a cropper in a year or two." The export goal, 175% of 1938 volume, had looked close last July: exports were up to 120%. But by November they had slipped to 117%. And last week, due to lack of coal, the export program was well on its way to coming a cropper...
...grand slam. To guard U.S. herds, the border might remain closed "for several years." For Mexico's brand-new Government, that was a real jolt. The half million head of cattle that annually went to U.S. markets had meant prosperity for the northern states; and cattle export duties had made up a big chunk of the federal budget...
...past, Jersey Standard and Socony have supplied Europe's oil needs from South America and other foreign properties. But since the depletion of U.S. reserves in the war (the Western Hemisphere supplied 90% of the Allies' needs), the Government has looked sourly on heavy export of oil from the Americas. One other prod to the deal was given by Ibn Saud. As oil and pilgrimages to Mecca are his chief sources of income, he has long awaited increased exploitation of his lands to boost his royalties of 22? a bbl. Shrewd old Ibn Saud also knows that more...
...final joker is the lack of money available to the State Department for financing foreign commodity buying. With the Import-Export Bank holding a bare minimum of funds, any amount of relief appropriations would have to run a Congressional gauntlet. An economy-minded Republican Capitol Hill can be expected to cut to ribbons any such grant, especially since it is foreseen that some of the nations will have to receive outright gifts...
...slash $9 billion from the federal budget. This was a "minimum," he said. Senator Taft recently vowed that the Republicans could make a $13 billion cut once they got their hands on the budget. Some of the savings Taber saw would be in nonrecurring items (e.g.: food subsidies, Export-Import Bank, World Bank and World Fund). On other items Taber promised to use a sledge hammer if necessary. Items which immediately met his eye: $2.5 billion from Army & Navy; $2 billion in terminal-leave pay (already diminishing); $1.5 billion "in other categories"; a whopping $3 billion when the Republicans...