Word: oils
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Dates: during 1930-1939
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...Morgenthau, knowing that silver and politics have been well-mixed for over half a century, was playing innocent-as he was last week when he refused to confirm the obvious fact that he was now mixing silver and oil. For the wording of his statement made it perfectly clear that he had withdrawn his subsidy in retaliation for President Cárdenas' seizure of $400,000,000 worth of foreign oil investments (TIME, March 28). The action had been taken, said the Secretary, "in view of the decision of the Government of the United States to re-examine certain...
Curiously, the heavy pressure on the State Department, which gave Mr. Morgenthau his orders, did not come from U. S. oil men. Not until after the day after the announcement did a delegation of U. S. oil men headed by Standard Oil's Walter Clark Teagle formally protest to Secretary of State Hull. The effective pressure came from Britain, whose stake in Mexican oil is larger than that of the U. S. It is the theory of the British Foreign Office that if it is to be prevented, by the Monroe Doctrine, from following its normal policy in dealing...
What regard the natives had for Anglo-Saxon property rights was last week fairly evident. Waving tiny Mexican flags, 200,000 of them paraded in Mexico City to celebrate their "Declaration of Economic Independence," hail the departure of los Gringos from the oil fields. But if President Lazaro Cárdenas enjoyed the parade, he was not amused by the U. S. silver embargo. Seriously he proclaimed to his people: "We must draw together to meet an unexpected problem." Mexico is the world's biggest silver producer and its silver mines are even more important to its domestic economy...
...latest work only a small column of bubbles appeared in the center of the ice. Riggs believes that by covering the ice with oil he can remove this trouble...
...this was authorized by President Lazaro Cardenas, originator of "The Mexican New Deal" (TIME, Dec. 3, 1934), who, the night before, had decreed expropriation of the $400,000,000 foreign oil investment, held largely by subsidiaries of Royal Dutch Shell, Standard Oil of New Jersey and California and Sinclair oil companies. U. S. Ambassador Josephus Daniels, to whom U. S. correspondents excitedly suggested that the Roosevelt "good neighbor" policy may have convinced Mexican workers that they can take U.S.property with President Roosevelt's tacit approval, replied: "Neither President Roosevelt, Secretary of State Cordell Hull nor I knew about...