Word: sugaring
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Dates: during 1940-1949
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When World War II began, many Americans were 1917-wise, outsmarted themselves by buying up staple groceries in which they expected a famine. A squirrel's panic (TIME, Sept. 23) forced price rises and even trade shortages in flour, canned goods, lard, and especially sugar, which rose from 4.40? to 5.75? a pound in one week. But by last week few housewives were laying by sugar any more. And speculators wondered whether sugar is still a good short sale. The beet price had fallen to a new all-time low, just .04? below the 3.426? a pound bottom...
...squirrel spree forgotten, sugar was back at its humdrum ways: an industry of chronic depression, divided into a number of tough and coony political pressure groups. The U. S. consumes about 6,750,000 tons of sugar a year. The big cane importers and refiners are equipped to serve a market for 8,000,000 tons. Besides this, the relatively high-cost beet operators of the Mountain States, California and Michigan, can turn out 2,000,000 tons. Under a free economy, beet sugar would not get a smell of the domestic market until demand broke all records and exceeded...
...Food and to spare for Britain, except for maize and, to a lesser extent, sugar...
...bales of cotton, plus her chronically astronomical coffee surplus (around 1,700,000,000 lb.). Canada had 300,000,000 bu. of wheat, and 70,000,000 lb. of pork and bacon all dressed up with no place to go. Cuba was carrying about 1,000,000 tons of sugar. Uruguay was loaded with 120,000,000 lb. of beef...
...sponsors: a number of New Deal braintrusters, worried businessmen, clearing through the State Department's Assistant-Secretary-at-large Adolf Augustus Berle. Economic Fireman Berle and conferees noted that in 1938 Latin America alone grossed about $1,200,000,000 from overseas sales of coffee, meat, sugar, wool, cotton, hides and skins, wheat, corn. Their idea: to form a kind of Hemispheric Surplus Commodities Corporation to buy up these surpluses, store them, sell them at a discount to the Red Cross, or do anything to keep them off the U. S. market. Such action would be simply an expensive...