Word: set
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Dates: during 1950-1959
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...countries a cooperative free-world undertaking. At the World Bank-IMF meeting in New Delhi in October 1958, Anderson sponsored a proposal to increase World Bank funds by doubling the member nations' commitments to guarantee World Bank bonds. At the same meeting, Anderson unwrapped a U.S. plan to set up an International Development Association (with the U.S. contributing one-third of the capital) to make loans that, unlike World Bank loans, would be repayable in the borrowing country's own currency, no matter how soft. At the World Bank-International Monetary Fund meeting in Washington in late September...
...Anderson was dragging the U.S. backward with a protectionist "Buy American" program (TIME, Nov. 9). But Anderson's essential purpose was to force Western Europe and Japan into providing loans to finance their own exports to underdeveloped countries. He would be happy to see Britain and West Germany set up their own development loan funds with "Buy British" or "Buy West German" strings attached...
...board urged member nations with adequate gold and dollar reserves to end discrimination against U.S. goods "with all feasible speed." A few days later, the meeting of the 37-nation General Agreement on Tariffs and Trade in Tokyo echoed the same theme. Fortnight ago. Britain, France and Japan all set about complying with the spirit of the IMF and GATT meetings. Britain wiped out quotas on most U.S. goods. France pared some tariffs on U.S. imports, scrapped a batch of import quotas, promised to get rid of the rest within two years. Japan promised to cancel restrictions on a wide...
...Tolerance. "This is a disaster," cried George Olsson, president of Ocean Spray Cranberries, Inc., a cooperative for 1,079 growers who produce 75% of the nation's 62,000-ton cranberry production. Cranberrymen, he said, have used aminotriazole with care-even before the Agriculture Department set a rule requiring that bogs could be sprayed only after harvest, to prevent contamination of berries. (In 1957 Ocean Spray took more than 3,000,000 lbs. of a suspect crop off the market...
...demanded a senior U.S. official last week. Firmly he answered himself: "It rests here in Washington." But the need for asking the question was as significant as the confident answer. For, to judge by the news last week, the pace, perhaps even the policy of the alliance, was being set, if anywhere, in the office of the President of France...