Word: peruvian
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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...
...Peruvian acreage reduction scheme conforms to the plan which the U.S. Department of Agriculture has followed toward its own farmers for eight years. The U.S. does not want its farmers at the mercy of a volatile international market, which the cheaper cotton of other countries has in any case already copped. It is now U.S. policy to help Good Neighbors declare their independence from this market...
...grower is Oscar 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...
...That the screened wooden balconies that jut from the walls of old Peruvian palaces in Lima and elsewhere, are patterned after those of East Indian harems...
Panagra started about 1928, when Pan Am was first nosing into South America. On the east coast Pan Am had no U.S. competition. But in the west Pan Am ran smack into Grace, which has toted Chilean nitrates, Colombian coffee, Peruvian copper and Panama hats in its green, white & black funneled ships for decades, considers that part of South America a state of Grace. Grace was thinking about an airline to complement its shipping business. So Pan Am and Grace made a deal-each anted up $500,000, agreed to own and operate Panagra, 50-50. Panagra started flying...