Word: importance
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Dates: during 1950-1959
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Both Brazil and Colombia want the U.S. either to set minimum prices for coffee and establish import quotas for each coffee-growing nation or begin stockpiling. The U.S. is not yet ready to go that far. It is willing to grant stopgap aid, e.g., a $103 million loan to Colombia a fortnight ago. And it is willing to work jointly on plans for more orderly marketing. "The U.S. finally has admitted that the problem is mutual," said one Latin American ambassador in Washington last week. "That's quite a change...
...editorial in the CRIMSON, with one eye on the frivolity of Freshman Week and another on the import of the House Plan, cautioned the Class of '33: "But when all this is over, when glittering generalities on the value of a college education, fight talks from the football coach and captain, ecstasy and despair over triumph and defeat have faded into a dim haze in the subconscious mind, the class will gradually realize that with the beginning of their sophomore year they wil be a part of one of the most important social experiments ever attempted in American education...
...Colombia's $103 million, $78 million came from the Export-Import Bank, the rest from 13 private banks. Announced purpose of the loan was "to assist in maintaining Colombia's essential imports from the U.S." Colombia is suffering from a 3,000,000-bag coffee surplus. Without the dollars the coffee could bring in, the country can hardly keep up with its current U.S. commercial debts. The choice, outlined in April by Colombian Foreign Affairs Minister Carlos Sanz de Santamaria: either the U.S. could grant a loan or Colombia would have to risk wrecking world coffee prices...
Approval of Chile's $25 million came so rapidly that details-including formal signing of the loan agreement-have yet to be ironed out. The Export-Import Bank will probably put up $15 million; the rest will most likely come from Mutual Security Agency coffers. Even the use to which the money will be put is not certain, but basically the loan's function will be to provide a dollar prop for Chile's sagging peso, hard hit by a world slump in copper prices. Last week the peso was so shaky (off from...
...gather accurate statistics, compute the effects of wage-price increases, and formulate standards for government policy. Economists such as the University of Chicago's Albert E. Rees would also like to see the Government itself put an end to price-boosting devices, e.g., farm price supports, tariffs and import quotas that shelter inefficient domestic producers. Said he: "If the Government is to condemn private enterprise for using rigid prices, it should itself cease being the greatest single source for price rigidity in the economy...