Word: imported
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Billy Rose, Broadway showman-columnist, who got a look at postwar Europe on a junket about a year ago, decided to import 25 war orphans and raise them on the 125 acres he added last year to his 57-acre farm in Mt. Kisco...
...effect on trade with the U.S. is already noticeable. To husband its dollars, each country has clapped on stiff import controls. Chile's Foreign Exchange Control Board, for instance, has decreed that only essential items, such as machinery for new industry, can get import permits. By such close-to-the-vest trade, Chile hopes to offset her $100,000,000 deficit...
...Peru, where nothing can be imported without a license, restrictions are just as drastic. Every request for a permit must be published in the official El Peruano (including the intention to spend $8.50 from a U.S. bank account for a subscription to TIME). Even so, Peruvians' funds are so tight that half the applications to import machinery, locomotives, lathes, trucks, etc. are turned down. Since last March, the Government itself has spent 14% of Peru's foreign exchange, mainly for food bought in Chile and Argentina and sold to the public at a loss...
Earlier in the week Peru's Congress voted to resume payment on long-defaulted bonds held in the U.S., in hopes of getting a U.S. Export-Import Bank loan. But both Chile's and Peru's prospects for new U.S. loans are poor. Perhaps, in the long run, the Strong Man will be a bigger help than...
President Miguel Aleman was sure to raise the subject of an Export-Import Bank loan-possibly as much as $400,000,000-to make his ambitious new program of irrigation and industrialization stick. But that would take time, and there were no experts in the Truman party of seven. Perhaps when Aleman came north to repay the call in April the two men would be more ready to talk...