Word: exporting
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Dates: during 1940-1949
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...stood before a cheering joint session of Congress and suggested (in Spanish) that "the policy of the Good Neighbor" should be implemented with "an economy of the Good Neighbor." In short, Mexico needed money. Alemán got some. He and President Truman announced together that the U.S. Export" Import Bank had agreed to lend Mexico an unspecified amount. Washingtonians figured that Mexico would do well to get one-third of the $175 million she had asked for. But that would be enough to give President Alemán a good start on his ambitious new public-power, irrigation...
...Brother Anibal makes the mahogany concession worth $400,000 a year. But the slickest parlay is in cattle. The biggest cattle raiser in the Republic, the Benefactor operates the most modern slaughterhouse, and sets his own price on all cattle sold in the country. The slaughterhouse, built with an Export-Import Bank loan, nominally belongs to the state; so do the ships that carry Trujillo's beef to their Puerto Rican markets. Dominican soldiers load the ships for Trujillo. They also milk the cows on his model 200,000-acre ranch, La Fundacion...
Most important, to U.S. companies was the old charge that Farben had weakened the U.S. by cartel agreements with Standard Oil Co. of New Jersey to restrict synthetic rubber development, with Aluminum Co. of America and Dow Chemical to restrict magnesium production, with a Du Pont subsidiary to prevent export of tetrazene (an explosive) to Britain...
Free ports, comparatively new to the U.S., have been common in Europe since Hanseatic League days. Merchants can bring goods into a free port without paying duties and without posting bonds; they can store their merchandise, sort it and repack it for export. Only if & when the goods enter the country proper are they dutiable. The day New Orleans' free port opened, it got its first customer-a Chicago liquor importer who planned to keep his liquor there in kegs, import it in bottles as needed...
Mexico cannot pay for all, or even half, of Aléman's $656 million program. That is where the U.S. comes in. The dams, hydroelectric and irrigation projects, roads, railways and docks on Mexico's blueprint are planned to pay for themselves. So to the U.S. Export-Import Bank they seem to be sound investments. President Aléman may get from the Bank's depleted kitty somewhere between $50 and $100 million. That will get his program started...