Word: import
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Dates: during 1950-1959
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When he discovered that the Army spent $1,000,000 yearly just to handle : empty milk bottles, McLane cannily worked out a deal to import U.S. machinery for packaging milk in cardboard containers. To pay for the equipment, he borrowed $250,000 from the Dutch reconstruction bank, then signed up The Netherlands' giant Sterovita Corp. to supply the milk, through McLane, for all U.S. forces in Europe...
...customers who need U.S. goods but lack the cash to pay for them, there is always one avenue of last resort. When both private bankers and the World Bank (which makes only loans guaranteed by foreign governments) refuse credit, the borrowers go to the U.S. Government's Export-Import Bank, set up to finance purchases of U.S. goods when other funds are unavailable. Last week three Japanese firms that wanted such loans were winding up arrangements to get them. To ease Japan's chronic power shortage. Ex-Im was closing an $11million loan to Kansai Electric Power...
...Help America Grow. Last week Banker Waugh was off on a three-week flying trip to Mexico and Central America to look over still more loan prospects, plans trips to Europe and Asia this year. He also hopes to encourage more small loans, bring more private capital into export-import trade, thus release more Ex-Im funds for new loans...
...recently from Mack Truck President P. 0. Peterson, who landed a $1,000,000 bus order from Iran with Ex-Im help. Wrote Peterson: "If America is to continue to grow and prosper, industrial concerns like Mack must find outlets for their increasing production. The Export-Import Bank is playing an essential role in enabling America to obtain its fair share of foreign markets...
...consumer goods, and those in excess of other commodities. Some ratio can be created relating the amount of newly-released capital or raw goods to the amount of consumer goods Russia purchases. That is, the U.S. would sell to Russia previously "strategic" goods only if the Soviets agree to import a greater amount of consumer goods. In this way, the U.S. can equate Soviet purchase demands with American exportable items, thereby selling them what they are willing to buy. Exporters, subsequently, should not be discouraged from Soviet trade. Such trade would be profitable and possible for both East and West...