Word: merchant
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Getting the U.S. ships ready and moving will be not only time consuming but also expensive for the American taxpayer. The Russians will pay the world free-market shipping rate, currently $10.50 per ton; under the Merchant Marine Act of 1970 Washington will pay ship operators an additional $8 to $10 a ton in subsidies necessitated by the American lines' high costs. In a complex rebate deal, the shipowners will have to pay back part of the profit they make as a result of the subsidy, but the business still promises to be lucrative. Right now, subsidy applications from...
...abbreviated accounts of the talks that were in the tightly controlled press. Rumors flew of an impending coup, of an imminent shakeup of the South Vietnamese army. A report that the government had placed a rush order for 2,500,000 yards of bunting with a Saigon cloth merchant sparked speculation that the rumored cease-fire might really be at hand...
...have controlled 80% of Uganda's economy). But still they complain remarkably little about their drastically diminished status. "Actually," says an engineer, "I was going to come earlier. The only difference is that I would have had some money and now I am penniless." Smiles an ex-merchant from Kampala: "The only thing I miss is my Citro...
Korin, it seems, was one of those exquisitely chic and talented spendthrifts whom the Japanese remember with fond envy. The son of a wealthy artist-merchant in Kyoto, he dissipated a fortune by such gestures as wrapping his box lunch for a cherry blossom-viewing picnic in costly gold-leafed and painted bamboo sheaths, then nonchalantly flinging them away into the river. But he was no dilettante. Korin's work embraced most mediums, even the decoration of plates, on which he collaborated with his brother Ogata Kenzan to produce works like the hexagonal iron-brown dish bearing a figure...
Harpoons. Why all the federal interest in blue-water commerce? Administration officials contend that a strong, modern merchant marine is still a necessary defense asset. Says Maritime Administrator Blackwell: "We don't want trouble, but if we have trouble in the Middle East or Thailand, we'll need those ships again." The case for building a "bridge of ships" to foreign trouble spots is questionable at best; the number of troops ferried to Viet Nam by ship, for example, was negligible. Moreover, the lavish subsidies violate the Nixon Administration's free-trade philosophy, which generally holds that...