Word: important
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Dates: during 1950-1959
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Pounds for Sale. Britain's action was welcomed more for its intentions than its actuality. Chancellor Butler raised from 44% to 58% the proportion of British imports freed from government restriction. This compares with a 75% trade "liberalization" expected of solvent nations by OEEC, and the 99% free trade permitted by Italy. Italy's open door actually threatens its own recovery: in the first two months of 1953, its imports from EPU nations exceeded its exports by $67 million. France is in direr straits and $625 million in debt to EPU; there is strong talk...
...iron and steel board, responsible to Parliament, will be set up to retain virtually all the powers over the industry that the government has now: the board will fix prices, regulate capital development, even import raw materials if it thinks they are needed...
More impressive than the obvious import of Miss Booth to play Lola is Hal Wallis' choice of Daniel Mann, the director of Sheba on Broadway, to film the screen version. Mann makes William Inge's portrait of frustration and wasted lives even more harrowing on film than it was on the stage. With few close-ups, the camera prowls the squalid little home of the Delaneys like a fascinated eavesdropper. It hides at the bottom of the stairs and catches the plump disarray of Lola as she wanders sleepily down to answer the door-bell; it watches the young boarder...
...Modification of the "Buy American" Act, plus a complete overhaul and simplification of tariff schedules, with an average rate cut of about 33%. Some 8,000 present tariff rates should be boiled down into a few clearly defined categories; tariffs and import taxes on such items as petroleum products, metals, wool and many manufactured goods, including machinery, autos and appliances, should be lowered or eliminated...
Last week the U.S. Export-Import Bank came to the rescue of Brazil's economy with a $300 million loan to help pay off dollar debts to U.S. traders, totaling more than $360 million. The loan, hotly debated in the U.S. National Advisory Council (composed of the Secretaries of State, Treasury and Commerce, the heads of the Federal Reserve and Export-Import Banks, and the Director of Mutual Security), would do much to assure the success of the Latin republic's new "free" exchange rate, which permits foreign firms to remit earned profits without limit. The loan...