Word: exporting
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Dates: during 1930-1939
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Isolationists snorted at the proposal that good money be sent abroad after bad. But the President explained that the borrowers were to be good South American neighbors, not wicked European defaulters. The money would all be spent in or for the U. S., opening and reconstructing export markets. Moreover, Jesse Jones would be the watchdog on duty...
...substituting annually declining export quotas for annually rising tariffs on major Philippine products with the exception of sugar (coconut oil, tobaccos, pearl & shell buttons), the Senate voted to save these island industries from extinction at least until the Independence year of 1946. As an original sponsor of Philippine Independence, Maryland's unpurged Millard Tydings had talked it over with Franklin Roosevelt, agreed with him that the islands could not stand too sudden a shift from free trade with...
...Neighbor Nicaragua got $2,000,000 in credits from Mr. Roosevelt (arranged by the Bank of the Manhattan Company and guaranteed by the Export-Import Bank) as a consequence of President Anastasio Somoza's visit (TIME, May 15). Next good neighbor (Brazil was first: $50,000,000 in March) expecting a handout: Paraguay...
...stop this drain. But they did so by violating capitalism's unwritten Magna Charta: That money must have a right to go wherever it can make profits and avoid losses. In Britain, this right has now been suspended by Sir John Simon's dictum: "The export of capital . . . would be deleterious to the national interest...
...certificate of convenience and necessity, awarded to Pan Am the day before the first trip, only two transatlantic flights may be made a week. With authorizations from France and England for six a week, CAA is keeping room for competition. Only competitor now in sight: American Export Airlines, which has not yet made its first exploration flight...