Word: tobacco
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Dates: during 1960-1969
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Outlawed Stamp. Not quite so funny were the new economic sanctions that Wilson slapped on Rhodesia. In addition to the embargo on Rhodesian tobacco and sugar (the nation's major crops), Britain also banned imports of asbestos (a $30 million export item last year), copper, lithium, chrome, iron, steel and meat. That made the embargo 95% complete. Simultaneously, Wilson ordered a halt to interest payments, dividends and pensions from Britain to Rhodesian residents, thus damming a flow of income that totaled some $25 million last year. He even outlawed Rhodesia's bright new independence postal stamp as British...
...home in Rhodesia is on a farm, eight miles from Salisbury. Like most other farms in Rhodesia, tobacco is our main crop; maize, groundnuts, and beans are secondary subsistence crops. The farms in Rhodesia are not only owned by Europeans but are also owned by Europeans but are also owned by Africans. According to the Central Statistical Office survey in July 1962, African farmers cultivated two and one half times as much land as did European farmers. By contrast in Kenya the Africans had to wait until there was an African government in power for farms to be handed over...
...interference by Britain they can develop the country in the most "sensible" way for both Europeans and Africans. In their alarm they have jumped from the frying pan into the fire of world opinion. They'll need all that fire to light their excess cigarettes--for their prime crop, tobacco, is no longer likely to find many buyers on the world market...
...sterling account with the Bank of England has not been frozen, but new exchange controls prevent British businessmen from accepting Rhodesian pounds and force them to channel payments to Rhodesia into special accounts held up at the bank. The London capital market, on which Rhodesia's 2,700 tobacco farmers depend, has been barred to them. A nation whose economy is precariously based on tobacco and sugar exports has lost its two best customers: Britain and neighboring Zambia, which together took $93 million (or 52%) of Rhodesian exports. Whitehall aims to force devaluation of the Rhodesian pound and make...
Rhodesia is already feeling the first effects of the economic siege. To compensate for the import duties that it will lose, the government last week sharply raised taxes on domestic beer, whisky and tobacco. South African banks, on which the Rhodesians had counted as allies, temporarily stopped trading in Rhodesian pounds because of the uncertainty. The United Nations, which has never imposed economic sanctions on any nation last week recommended an oil embargo on Rhodesia and the U.S. announced it will not accept Rhodesian sugar...