Word: longterm
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Dates: during 1960-1969
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...capitalize on it by charging Park with "a sellout policy with too many concessions." Although the treaty does concede to Japan access to rich fishing waters inside the former limit set by Syngman Rhee, it also provides for Japanese payment of $300 million in reparations, $200 million in longterm, low-interest loans-and the promise of vast new markets that may do much to ease South Korea's 10% unemployment. Yet, to many Koreans who fear Japanese economic domination, the treaty sounds dangerous. "Negotiating with the Japanese is like peeling a green onion," said one Korean recently. "You never...
...N.F.O. President Oren Lee Staley, 41, onetime Missouri farmer turned big-league farm organizer, the scheme called for thousands of livestock men to withhold their products in a massive market boycott that would eventually boost meat prices all over the U.S. Then, as Staley planned it, he would negotiate longterm, high-priced contracts with meat packers on behalf of legions of farmers. Staley had tried the same thing in 1959, 1961 and 1962 and failed; as soon as prices climbed slightly because of the boycott, profit-smelling non-N.F.O. farmers had rushed in to take advantage of the rise...
...Power & Homes. The bank was set up in 1960 to step in where private banks and other international lending institutions feared to tread. Under its able and imaginative president, Felipe Herrera, 41, a Chilean economist, el BID has granted longterm, low-interest loans for hydroelectric power in such marginal-risk areas as Guatemala and Paraguay. About 35% of its loans are for agricultural projects, which often get a cool reception from international bankers. Last year the Mexican government received $30.5 million to reclaim and settle 130,000 desolate acres in the southeastern state of Tabasco, while Venezuela and the Dominican...
...CAPITAL GAINS. Kennedy had asked that the capital gains tax on profits from the sale of assets held for one year or longer be reduced from a maximum of 25% to a maximum of 19.5%. (At present, gains on assets held six months or longer are considered longterm; shorter-term gains are taxed at regular income rates.) The committee decided instead on a new rate of 21% and required that assets be held two years or longer to qualify. The committee turned down a Kennedy request that the amount of an estate that has resulted from appreciation of assets...
Farmers grow too much on too much land. City wage earners have money, free weekends, but nowhere to go. Trying to alleviate these dual problems, the U.S. Department of Agriculture has instituted a program offering family farmers longterm loans up to $60,000 to develop "camping grounds, swimming facilities, tennis courts, riding stables, vacation cottages and lodges, lakes and ponds for boating and fishing, docks, nature trails, picnic grounds and hunting preserves...