Word: quota
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Dates: during 1960-1969
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...Amend U.S. immigration laws so as to 1) double the overall limit of immigration from quota countries, from the present level of 154,000 a year to 308,000 a year, and 2) base national quotas on the relative numbers that immigrated into the U.S. from various countries over the past 35 years rather than on the makeup of the U.S. population in 1920. The amendments would greatly increase immigration from Asia, Africa and Southern Europe (Japan's quota would rise from 185 to 1,859, Italy's from...
SUGAR, one of the world's most closely regulated commodities, has become a powerful economic weapon as the strain in U.S.-Cuban relations has increased. Last week President Eisenhower asked Congress to extend the Sugar Act for four years, grant him authority to cut the quotas of any of the 15 foreign nations (including Cuba) that export sugar to the U.S. Beyond its political implications, Ike's action raised a more basic question: Should the U.S. continue a protectionist quota system that compels the consumer to support the price of sugar...
...world's countries have some form of controlled buying or subsidy system that keeps prices for sugar higher than the world price. In the U.S. the price, in effect, is controlled by the Secretary of Agriculture, who can increase or cut it by changing the quota (9.4 million tons in 1960). U.S. refiners pay more than 5? per Ib. for sugar, about 2? above the world price, pass the extra cost on to consumers...
...misleading. Of the 52 million tons of sugar to be consumed in the world in this year, some 38 million tons will be used in countries where it is produced. Of the remaining 14 million tons, more than 8,000,000 tons will be sold to nations with quota systems similar to the U.S. The remaining 6,000,000 tons, which sells at the world market price, is largely surplus sugar. Says Boyd MacNaughton, president of C. Brewer & Co. Ltd., Hawaii's second largest sugar company: "The so-called 'world market' is a dumping ground for surplus...
Confiscation & Forbearance. What is the U.S. to do? For the time being, the U.S. will continue to grit its teeth and pursue a policy of patience. Secretary of State Herter says that the President is still opposed to taking economic countermeasures, such as cutting Cuba's sugar quota. The nation is already in difficult financial straits; its foreign-exchange reserves are down to $88 million, while debts abroad come to between $80 million and $100 million, much of it for the huge arms-buying program...