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...austerity economy and stifling bureaucracy. About the same time, foreign demand for its iron ore slumped; production dropped from 1,000,000 tons in 1961 to 650,000 tons last year. Wage scales were adjusted downward to an Indian scale, but the cost of living climbed by 3%. Indian import restrictions abruptly cut off the flow of foreign goods, bankrupting many small merchants, and forcing Goans to pay more for Indian merchandise of a lesser quality...

Author: /time Magazine | Title: World: Province to Colony | 2/1/1963 | See Source »

...German-accented English. "It's no loophole. It's the law." The Interior Department, partly as a result of prodding from the State Department, agrees. Sagely, however, Hofmokel has concluded a gentleman's agreement with the Government: so long as Brownsville limits its oil imports to 30,000 bbl. a day, the U.S. will make no move to rewrite the overland import rules...

Author: /time Magazine | Title: Oil: El Loophole | 1/25/1963 | See Source »

...Manhattan with $40 to his name. Remembering Pearl Harbor. A depression, he quickly learned, is no time to be an architect. In office after office, he found that the boss was just "sitting around reading the newspapers." So Yamasaki spent that first year in Manhattan wrapping china for an import firm. It was not until 1937 that he got into serious architecture, first with the firm of Githens & Keally, which was planning the main building of the Brooklyn Public Library, and next with Shreve, Lamb & Harmon, who had designed the Empire State Building. In 1941, he fell in love with...

Author: /time Magazine | Title: Art: The Road to Xanadu | 1/18/1963 | See Source »

...belt-tightening measure intended to save money for national defense, India last week decreed an end to the import of foreign liquor. After existing stocks of Scotch and brandy are used up, Indian drinkers will have to depend on such local specialties as palm wine, rose petal liquor and a brew of saffron musk...

Author: /time Magazine | Title: India: How Dry I Am | 1/11/1963 | See Source »

Only a handful of foreign automakers succeeded in bucking this trend. Volkswagen, the No. 1 import, increased its sales from 203,000 to 225,000. More surprising was the performance of Britain's Standard-Triumph, which increased its sales 50%, from 12,000 to 18,000 cars, and leapfrogged from sixth to third place among imported makes...

Author: /time Magazine | Title: World Business: Unexpected Triumph | 1/11/1963 | See Source »

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