Word: normalization
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Dates: during 1930-1939
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...Congressman was too obscure to issue a eulogy of the dead Speaker. One potent griever was Representative Joseph W. Byrns of Tennessee, majority leader; another Representative William Bankhead of Alabama, Chairman of the potent Rules Committee; a third, Representative John McDuffie, also of Alabama. By normal "right of succession," Leader Byrns should be elected Speaker in January. Mr. McDuffie was an unsuccessful candidate when Rainey was elected in March, 1933. These two, Mr. Bankhead, and perhaps others, will doubtless be candidates for the Speakership again. A many-sided quarrel arousing factional bitterness will not make it any easier...
Keen, hard Premier General Ismet Pasha sped out from Istanbul to Bakirkoy last week with a slogan ringing in his ears: "Assure the independence of our shirts!" In a normal year Turks turn into shirts and shifts some 50,000,000 yards of cotton sheeting. This they have bought chiefly from Japan, but Dictator Mustafa Kemal is now driving ahead with a Five Year Plan to industrialize Turkey and make her self-sufficient. In this program the building of cotton mills was put first "so that the Turkish people shall no longer wear the imported cotton shirts of economic slavery...
...heart is happy today, because I have seen with my own eyes some of the things that I have been hearing and reading about. . . ." When he reached Washington he was to hear and read still more. The August crop report predicted a corn harvest only two-thirds of normal, 500,000,000 bu. smaller than estimated a month earlier...
...bales abroad. Successive bumper crops over a long period piled up a surplus of U. S. cotton which on Aug. 1 stood at 11,000,000 bales. The small 1934 crop would reduce this carryover to some 6,000,000 bales, almost normal. There would be nothing like a shortage but supply and demand would at least be within striking distance once again. When trading was resumed the price of cotton soared nearly ½? per lb. in the wildest markets in many months. Distant futures climbed to 14? per lb. for the first time since...
Furthermore, rising prices for domestic cotton have weakened its competitive position against wool and silk. Wool and cotton prices are in approximately the normal relationship of the past 20 years but to raw cotton prices must be added the $21-per-bale processing tax, giving wool a vast advantage. Silk prices are only one-fifth of their 20-year average; cotton prices (exclusive of processing tax) are above. These facts may be a mystery to the U. S. housewife, but her resentment at rising prices for cotton goods is no mystery at all. Despite "cotton weeks'' and other...