Word: schumania
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Dates: during 1953-1953
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...India, while The Netherlands held its own price down to $22.50 by strict controls. A common market has established a price of $33 a ton (v. the U.S.'s $43), and Italy, which still has to depend on high-priced foreign scrap, gets a subsidy from the other Schumania nations to make up the difference. At first, France's government tried to buck the common market with its own cartel designed to limit exports, but yielded when Monnet put his foot down...
...Schumania's Boss Monnet, the most encouraging sign of all is that Europe's nationalists are beginning to think as Europeans. Last January, hoping to raise $30 million to pay for administrative expenses, technical research and interest on loans, the High Authority told the community's 1,008 factories and mines that they would be taxed .3% of the average value of their monthly output and that the levy would ultimately be raised to .9%. Not one protest was heard, and payments have been coming in regularly...
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