Word: important
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Dates: during 1930-1939
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...Peek, who got out of the Agricultural Adjustment Administration because he felt that the U. S. farmer would be the loser by Brain Truster Tugwell's plans for restricting production, was brought back into the Administration fold on his own terms. He agreed to head the Export-Import Bank founded to promote Russian trade. Later he was also expected to take command of two other unformed banks, one to promote trade with Cuba, the other, trade with the rest of the world...
There is small question but that these lectures will be of import to the student in the preparation for his General Examinations, that he will find them valuable aid for cementing regular course work into a thorough conception of his particular field...
Upshot of the meeting was 1) a decision to inaugurate two more Government banks to finance foreign trade, like the Export-Import Bank formed last month to facilitate trade with Russia. Mr. Peek -who had brought to the meeting a man-sized plan for the creation of a Foreign Trade Administration-accepted the presidency of the three banks. 2) A tariff message from the President is expected to be sent to Congress this week...
What the American government is barking upon now, therefore, is a plan to recover foreign trade. It was to $9,000,000,000 in 1929 and dropped down to less than $2,000,000,000. This includes both exports and imports. But the development of foreign trade cannot be accomplished in the present state of world currency troubles and tariff restrictions unless there is a consolidation of export and import business under government financing. Hence an export bank has been set up under George Peek, and President Roosevelt has asked Congress for power negotiate reciprocal tariffs...
...accept greatly increased quotas of U. S. apples and pears in return for more wine shipped to the U. S. (TIME, Jan. 1). Anxious as France is to help her vintners, she is still more firmly bound to the quota system and economic self-sufficiency. Hence some other import quotas had to be decreased, and it was the British that suffered. British shipments were reduced ?3,000,000 in value and the license tax on British coal drastically upped...