Word: exports
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Dates: during 1930-1939
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...President Roosevelt issued an executive order to permit the export of freshly mined gold for sale at world prices. A second order required gold hoarders to register their holdings with the Treasury. How this order was to be enforced upon hoarders who had so far successfully defied the Government's threat of prosecution was not explained. Presumably hoarders, if caught, would be prosecuted for failing to register rather than for possessing gold...
Thus 50,000,000 bushels of export wheat were left to be supplied by the other considerable exporter, Russia. The Soviet delegate signed the agreement but refused to limit exports to a definite figure. Diplo- mats and wheat experts were not perturbed. Private investigations and the unofficial admissions of Russian delegates show that this year Russia will not possibly be able to export more than 50,000,000 bushels. Reason: famine, or as Moscow correspondents find it wiser to say, "mal-nutrition...
After nearly a week of suspicious sniffing, Argentine Delegate Thomas Le Breton last week received in London his Government's assent and signed the international wheat agreement, drawn up fortnight ago (TIME, Sept. 4). By it the exporting countries agreed to divide between them a total export quota of 560,000,000 bushels of wheat for the coming year, and cut their exportable production 15% for 1934-35. The agreement runs until July 31, 1935, provides an advisory committee to adjust quotas. Importing nations agree to lower their tariffs when the world wheat price has reached 63.08? gold...
...there had been no free market, realistic grain traders had withdrawn from the market; with the peg removed traders had gone in again. Contributory cause that certainly helped to steady the market was that, as the peg was removed, Secretary Wallace began to talk of subsidizing the export of 50,000,000 bu. of wheat from the Pacific Northwest, and of raising the wheat processing tax to pay for the subsidy. The Secretary of Agriculture has power to fix processing taxes at an amount equal to the difference between current prices and the average price...
Shipped out of New York last week was $347,000 in government gold, the largest single export (exclusive of foreign ear-markings) since the President's embargo. In France, Italy, Belgium and other gold-standard countries it was to be used to make the government paychecks of Ambassadors, Ministers, diplomatic secretaries, consuls, military & naval attaches, clerks, stenographers and messengers worth their face value in gold dollars...