Word: peru
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Dates: during 1940-1949
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...Besides Peru's 200,000 bales, the um brella already covers Haiti's 20,000 bales, and will be spread to cover Nicaragua's 4-5,000, Paraguay's 30-40,000. In due course it will be extended to Brazil's 2,000,000 bales, the big problem crop which, partly developed by Japanese colonists, has undersold U.S. cotton by 6? a lb., even in Canada...
...deal in cotton which Commodity Credit Corp. made with Peru last week was not just another U.S. subsidy to a Good Neighbor. It was a step, in Claude Wickard's words, toward "the working out of world cotton production and marketing problems after the war." It foreshadowed a day when the growers of the Western Hemisphere, under U.S. leadership, will present a united front to the cotton markets of the rest of the world, and at the same time cooperate to reduce their own dependence on those markets. It was a step toward the internationalization...
Commodity Credit Corp. agreed to buy up to 200,000 bales of Peruvian cotton this year for about $10,000,000. That is the two-thirds of Peru's crop which she exported before the war; the rest Peru sells to her neighbors. The U.S. will not try to import its purchase, but will leave it in Peru. As its part of the bargain, Peru agrees to try to reduce her cotton acreage, substituting non-surplus crops like flax, rice, beans. For every 1% change in cotton acreage after this year, the U.S. price to Peru will move...
...Johnston, whose 50,000 acres of rich Delta soil got him $363,000 of Government benefit payments in four years. Last month Oscar Johnston was appointed special representative of CCC as a cotton idea-man. He had planned to go to South America to close the Peruvian deal; but Peru sent two able representatives* to the U.S., who signed with Claude Wickard in short order. So Oscar stayed in Washington and meditated on cotton's war and post-war worlds...
...David Dasso, Minister of Finance and Commerce and M.I.T. graduate; Pedro Beltran, Peru's leading cotton...