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Sometimes it would turn up about lunch-time and stand impatiently chugging while she changed into sport's clothes, after which it would dash away with her, humming contentedly, into the depths of the country. It was the magic-carpet which obeyed all her desires. After war-days, with their petrol shortages and restricted travel, it seemed more than ordinarily magic.
They feed off market failures, market imbalances, arbitrage opportunities, shortages and inefficiencies. Many post-Communist countries have either made the provision of such services a part of their economic life or are about to do so. Free zones, off shore havens, off shore banking and transshipment ports proliferate, from Macedonia to Archangelsk.
Singularly enough, it took me, trained accountant as I was, a full month to find out what I had been let in for, and why the job I was holding down had been given to an ex-convict. It was my duty to check the railroad waybills on consignments of coal, to correct the weights, and to make claims for overcharges and shortages.
In the 1750's a series of droughts and other natural disasters brought crop shortages in some areas, driving tobacco prices well beyond normal levels. In 1753 and again in 1755 the assembly allowed taxpayers to pay taxes in either tobacco or specie at the rate of two pennies per pound of tobacco owed. On one hand this seemed eminently fair.
No doubt she knew more about the shortcomings of the Russian army than did the French or the British. On these, pretty exact knowledge of the Russian shortages enabled her to reckon. There we miscalculated more than she did. But she was not strong enough to make sure work of a brief but conclusive campaign in the West, which was all she could afford while Russia was organizing.
However, we know that there will continue to be shortages of certain materials caused by the war even after June 30, 1946. It is important that businessmen know now that materials in short supply are going to be controlled and distributed fairly as long as these war-born shortages continue. I, therefore, urge the Congress soon to extend the Second War Powers Act.
I recommend the continuance of the authority for Federal control over rents in those communities in which serious housing shortages exist. These are chiefly the so-called defense areas. In these and all areas the Federal Government should withdraw from the control of rents as soon as practicable.
This could herald a new role for the American private sector in helping solve the world's serious food shortages. I am pleased to say that our relations with Nigeria are at an all-time high, providing the foundation for an even stronger relationship in the years ahead.
Only through well-established policies of transmitting power directly to its market and thus encouraging widespread use at low rates can the Federal Government assure the people of their full share of its benefits. Additional power public and private is needed to raise the ceilings now imposed by power shortages on industrial and agricultural development.
The first common peak, 1818, and its ensuing trough came promptly upon the establishment of the characteristic régime of the ante-bellum period, in which the African reservoir could no longer be drawn upon to mitigate labor shortages and restrain the speculative enhancement of slave prices.
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