Word: product
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Dates: during 1960-1969
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...Canadian magazines' story is that they are fast failing financially at the hands of U.S. publications that, entering Canada with an editorial product already paid for by their U.S. circulation, enjoy an unfair edge in the race for Canadian readers and revenues. The plaint is a familiar one. In 1957 a Liberal government zeroed in on Canadian editions of U.S. magazines (principally TIME and Reader's Digest), imposed a 20% tax on their Canadian advertising revenues. Diefenbakers Tories denounced the tax as discriminatory and as an interference with freedom of the press. Since the tax also failed...
...becomes so increasingly American?" In rebuttal, representatives of U.S. publications contested the notion that Canadian magazines were suffering unduly, noted that between 1950 and 1959 the ad revenues of Canadian magazines rose from $17 million to $40 million, faster than the growth rate of Canada's gross national product...
...economy is going in 1961. Their consensus: The recession will last into the first half of 1961 but will get no worse, will give way to an upturn in 1961's second half, which should make 1961 a better year than 1960. None felt that the gross national product will drop more than 1% or 2% before the upturn...
...Next Upswing. Outside the hearing room, the testimony was echoed by other economists. The U.S. Chamber of Commerce predicted a "mild" business slump for the first half of 1961 of "only 1% or 2%" in the gross national product. For the long run, the chamber was optimistic. In the face of the slide; said Emerson P. Schmidt, the chamber's chief economist, "the strength and level of the economy are surprising." He believes that the gross national product may climb as high as $520 billion in 1961 (at present: $500 billion) if the slump ends by midyear. Says Schmidt...
...lent him $125,000 to start his rubber and Brazil nut groves, but since they take seven years before they bear fruit, he planted sugar cane for a quicker crop. It grew fast- 18 ft. high. To make the most of it he had to process it into a product he could sell locally. Friends in Texas dug up $30,000 to build the distillery...