Word: importations
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Dates: during 1950-1959
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Last week the U.S. Export-Import Bank lent Japan $60 million to be used for importing more raw cotton from the U.S. The loan was one part of a broad program designed to boost both overseas and domestic consumption while holding down production. The goal for 1956-57 is a 20%-25% increase over total cotton sales in 1955-56 by doubling exports to 4,500,000 bales while keeping domestic consumption at last year's 9,200,000-bale level or even increasing it. With flexible price supports between 75% and 90% of parity, Agriculture Secretary Ezra Taft...
While many cottonmen cry for higher tariffs or strict import quotas, the Administration is determined not to give in. Textilemen want protection, demand restrictions on Japan, which is "flooding" domestic markets with cheap finished cotton goods, forcing the closing of some U.S. mills. Actually, Japanese exports to the U.S. are barely 2½% of the U.S. cotton-goods market. Moreover, Japan is also one of cotton's best customers, bought $120 million worth of raw cotton last year from the U.S. To still the protests, the U.S. has worked out agreements for voluntary curbs, e.g., Japan has pledged...
Ever since, business has been booming, though Gentili has been blacklisted by the U.S., and the Italian government refuses to grant him import or export licenses. He has built a fortune by arranging deals between China and Italian suppliers. Through Gentili they ship textiles, chemicals, Pharmaceuticals and other nonstrategic items, although the Milan right-wing daily, La Patria, charged that Contact Man Muratori is "a notorious trafficker in strategic materials to the Soviet bloc." Gentili repays the Reds doubly for his virtual monopoly by pouring much of his profit into the treasury of the Communist-lining Italian Socialist Party...
...IMPORTS to U.S. are nearing crackdown by Office of Defense Mobilization. With oilmen planning still more import boosts in fourth quarter, on top of 3% third-quarter increase, ODM will issue final warning for industry to cut back at least 4%, "or the Government will have to order the cuts itself...
...month after his return to St. Louis, Martin was asked by War MobiMzation and Reconversion Chief John Snyder to join the Export-Import Bank as a director. Within a year Martin was appointed Ex-Im chairman (at $15,000), presided over the bank's expansion of capital to $3.5 billion. Determined not to allow the bank to become a handout window, Martin once refused to make a loan to China that had been requested by General George C. Marshall, then Secretary of State, insisted that he would never approve a loan unless it were economically sound. In 1948 Martin...