Word: importance
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Dates: during 1940-1949
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...President himself had recommended a straight price-support program for domestic wool-growers, to replace the old program, which was terminated April 15. Congress had drawn up a bill along those lines, then loaded it down with amendments. Majority Leader Charley Halleck had tacked on provisions for import fees and import quotas to be imposed when the President "has reason to believe" that the inflow of foreign wool is harmful to U.S. sheepmen. Specifically because of that amendment the President vetoed...
...negligible factor. The services are short of oil chiefly because the oil companies: 1) get a better price from motorists than from bulk sales to the Government, and 2) are in a competitive "brand name" fight for the U.S. market. To eke out its supply, the Navy plans to import an extra 3,400,000 bbl. from the Persian Gulf...
...original version of the bill called for a continuation of present wool subsidies till 1948, and the sale of 500 million pounds of wool accumulated by the government at war-profits prices. Dissatisfied with these provisions the House has written in an amendment raising import fees (and therefore prices), and calling for restrictions of wool imports. Thus is spelled out in sober measures what is, in short, an excellent deal for the American wool growers. The value of the amendment to the American consumer, and to the maintenance of world economy, is more difficult to discern...
President Truman's courage in opposing again a Congress plainly eager to demonstrate his ineffectualness is therefore laudable. The effect of his veto is likely to be the elimination of the import-fee amendment, and the final shifting of the burden to the Treasury. This act of sweeping the business out of public sight under the rug would obviously be no final answer to the wool wrangle. It would at least, though, spare America the irony of talking world stability up big at Geneva, while at the same time giving it a kick in the stomach long-distance from Washington...
...bipartisan advisory council of citizens to survey the American economy, determine how much could be drained from it for transfusions to the world's economy without impairing U.S. health. But many a Congressman showed little sympathy for expanding U.S. ventures in internationalism. House-Senate conferees agreed on an import fee on wool which, if it became law, might wreck Administration efforts at Geneva for freer world trade (TIME, June 2). Marshall and Under Secretary Will Clayton had to rush before a House committee to plead for extension of the Maritime Commission's power to operate the tankers...