Word: immed
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Changing Ways. Times have changed in India since the days when the Nizam was absolute autocrat of Hyderabad, could dress in encrusted brocade and im port whole jazz bands from England to play his favorite tunes, Whispering and I'm Forever Blowing Bubbles. As a civil servant now, subservient to the New Delhi government, he has to struggle along on a tax-free stipend of only $1,000,000 and an expense account of half as much, as autocratic democratic head of the state of Hyderabad (pop. 19 million). In tune with the tight times and his penny-pinching...
Enter Hitler (Albin Skoda). The generals give him the bad news; he spits black bile and throws them out. Goebbels brings in the astrologer. "Im August Sieg!" At news of Roosevelt's death, the Führer does a jig. When Speer and Göring try to tell him the war is lost, he vests command in the SS. A squad of Hitler youth, who have done men's work in the battles before Berlin, are marched in to be decorated. Hitler pats their cheeks, pins medals on them and gives each one an éclair...
...Im president since last fall, Banker Waugh has worked hard to boost overseas loans. Back in the early days of the Administration Treasury Secretary Humphrey, who had to lend the bank its funds, was skeptical, wanted to cut down. But after studying the bank's consistent profits ($59 million in fiscal 1955), he became an ardent booster, hand-picked Waugh and backed his policy of increasing the flow of loans. Now President Waugh is funneling out new loans at a greater rate than last year. Among them: $19.6 million to the Santos-Jundiai Railway in Brazil...
...Waugh was off on a three-week flying trip to Mexico and Central America to look over still more loan prospects, plans trips to Europe and Asia this year. He also hopes to encourage more small loans, bring more private capital into export-import trade, thus release more Ex-Im funds for new loans...
...whether or not more private bankers come in, President Waugh promises to keep Ex-Im growing. He measures the need for the bank by letters such as the one he got recently from Mack Truck President P. 0. Peterson, who landed a $1,000,000 bus order from Iran with Ex-Im help. Wrote Peterson: "If America is to continue to grow and prosper, industrial concerns like Mack must find outlets for their increasing production. The Export-Import Bank is playing an essential role in enabling America to obtain its fair share of foreign markets...