Word: latinity
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Dates: during 1940-1940
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...From the Latin Quarter in Boston comes Helen Carrol, who ends the first half of the show with a few popular songs...
...contemporaries of Cordell Hull the problem is more urgent than it was to James G. Blaine's. To Latin America, World War II has meant the loss of roughly $17,000,000 a month to Germany alone, has jeopardized another $35,000,000 a month in exports to the Allies, nearly equivalent losses of imports from Europe. To the U. S., Latin America is a great potential market for industrial products, a great potential source of needed raw materials (such as rubber, tin) whose usual sources (British Malaya, Dutch...
Logical, as well as urgent, is an increase in U. S.-Latin American trade. For to develop her production of what the U. S. needs, Latin America requires millions of dollars worth of mining and farming machinery, railroads, utilities, other capital goods. These, without export markets, she cannot buy. Hence the need of an Inter-American Bank and U. S. credits to Latin America...
...Obstacle. Latin America, in previous U. S. experience, is a bum risk. Haunting the U. S. money markets are 155 defaulted bond issues of (or guaranteed by) 16 Latin American Republics. They represent 77.1% of the $1,600,530,070 (178 issues) floated by Latin America during the heyday of gold-plated foreign bondjobbing. After seven years of Good Neighbor talk, some of these cats & dogs are still selling for one and two cents on the dollar. This debris of the last spree is the first fact to be explained away by all advocates of new credits...
Extremists both North and South make the solution of this problem tougher. In Manhattan sits the unofficial Foreign Bondholders Protective Council, Inc. Taking a they-hired-the-money attitude, it protests partial settlement offers by the debt-laden Republics, thereby revives traditional Latin American resentment against the Shylock of the North. Extremists in the South are hardboiled governments (Mexico's, Bolivia's) which assume that the U. S. has the jitters. Eager to capitalize on Washington's fear that the Fascist axis will undermine the Monroe Doctrine, they would kid the U. S. into canceling the bonds...