Word: importations
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Dates: during 1950-1959
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Shortages have grown worse. Chrome-mining firms cannot even get enough foreign exchange to buy dynamite; textile mills have closed because they cannot get funds to import wool tops and dyes. The sinking state of Turkey's credit has scared off foreign enterprisers who might otherwise have taken advantage of Menderes' generous terms for new oil and other foreign investors...
Prochnow, who succeeds Samuel Waugh (now president of the Export-Import Bank), will help handle foreign aid, trade and tariff negotiations, and programs to stimulate overseas investments. He got off to a flying start: while his nomination was in the works, he left with Under Secretary Herbert Hoover Jr. for a flying tour of trouble spots in the Far East. By the time his appointment was duly approved and signed by the President, convalescing in Denver, Prochnow was in Tokyo talking with Japan's top officials...
None of the abundant policemen have set to work on the corn and beans deal; instead, a new food scandal broke. Guatemala's established importers of flour charged that Minister of Economy Jorge Arenales had set up a quota system that virtually handed an import monopoly to a group of businessmen represented by his own former law partner. Arenales tried to defend his move as an encouragement for growing and milling wheat locally. But the press was unconvinced. Columnist José Alfredo Palmieri sighed: "Corn, beans, and now flour-the best profits are always made on hunger . . . Food speculation...
...recently announced desire of the Russians for increased trade with the West prompted Berman's trip. His mission was to find out what goods the Soviet wanted to export and import, and to study the commercial and legal questions involved. He discussed these subjects with the Ministry of Foreign Trade and with the heads of more than ten Soviet import-export combines...
...bankers warned against writing checks with them (forgers could literally pick up a transfer of a signature); schoolteachers banned them; and retailers were swamped with complaints. But Pat Frawley was full of confidence-and with good reason. At 16 he was a salesman for his father's export-import business in Nicaragua; at 18 he negotiated a $300,000 deal between Panama and U.S. Rubber. At 23 he built a flourishing export-import business in San Francisco...