Word: wheat
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Dates: during 1930-1939
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Following each other in rapid succession, the distressing spectacles of the Disarmament Conference at Geneva and the World Economic Conference at London soured the world's stomach for conferences in general. Delegates of 21 nations reassembled in London last week to talk about wheat, and the world Press regarded the beginning of their deliberations with marked skepticism-for the first three days with considerable justice. The framework for an international agreement to cut wheat production for two years by 15% in each of the great exporting countries-Canada, U. S., Australia, Argentina-had been drawn up early...
Delegate Murphy wrote about the wheat agreement for the Associated Press. Excerpts...
...market, realistic grain traders had withdrawn from the market; with the peg removed traders had gone in again. Contributory cause that certainly helped to steady the market was that, as the peg was removed, Secretary Wallace began to talk of subsidizing the export of 50,000,000 bu. of wheat from the Pacific Northwest, and of raising the wheat processing tax to pay for the subsidy. The Secretary of Agriculture has power to fix processing taxes at an amount equal to the difference between current prices and the average price (88?) for 1909-14. The present...
...staged an economic comeback almost equal to that of the U. S. Her bank clearings are 27% ahead of last year, her car-loadings up 7%, her wholesale price index stands at 70.5 as compared to 66.6 a year ago and 63.6 in February. Drought has put her wheat up to 80? (from a low of 50?). Her busy gold mines are working virtually at 100% of capacity, making big profits with gold selling at a handsome premium. Electric power production is up 14%. Her big paper industry has started into renewed activity that parallels the rise of steel...
Newspaper correspondents have steadily stressed the fact that Russians are harvesting bumper wheat crops this year (TIME, July 3). But they believe that there is still famine, left over from last year's poor crop. Nervous, the Soviet Government last week bottled up all foreign correspondents in Moscow, refused to permit them to travel in the provinces unless it could be certain what they are looking...