Word: exporting
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Dates: during 1930-1939
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Slap in Face. One afternoon a roomful of newshawks faced Secretary of Agriculture Wallace in his office with Agricultural Adjustment Administrator George Peek stony-faced at his elbow. The Secretary explained that: 1) the production of corn and hogs must be cut because the export of pork had fallen off; 2) the packers would be handed a code which provided the Government access to their books, power to control their margin of profit; 3) the AAA's milk marketing agreements were unsatisfactory and would have to be revised to control dairy production...
...perhaps significant that Mussolini has chosen this method of stimulating his export trade. Why did he not choose a mild dose of inflation instead? Was the decision a purely rational one, or did he have at heart the good of the bond-holding capitalist class? For those who believe strongly in two popular tenets, one, that inflation is by nature uncontrollable, and two, that Mussolini is a power unto himself, the second question will appear wholly gratuitous. But to the remaining minority the query will have its point. Even though the wage cutting scheme be inferior to the price-raising...
...kind of investment made is another thing, but any experimenting with foreign exchange holds risks for those who are not familiar with such transactions. It is not believed that the banks are encouraging a flight of capital. They are presumed to be withholding any advice that leads to an export of money...
...pounds to get dollars. The result would be a jump in the price of the dollar and a decline in the pound and the franc. This change might be happening at the very moment the funds of some luckless individuals were being sent out of the country. Indeed, the export of capital in times like these is a form of speculation, which has in it all the dangers that any speculation of chance-taking transaction may encompass...
...scrip, banking syndicates will be formed in the creditor countries. The syndicates will resell the scrip at a small commission to the German Gold Discount Bank. This bank, having bought the scrip for a little more than half its face value, will sell to "preferred" (i. e. subsidized) German exporters who can use it at full face value to buy or produce in Germany the goods they export...