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Trade Didn't Ease Dollar Drain, Congress Told
Comptroller General Elmer Staats told Congress that a 1965 barter deal swapping surplus food for uranium and diamonds did not ease the dollar drain. The plan diverted $27.7 million in agricultural commodities to acquire diamonds and uranium no longer needed, reducing potential balance of payments improvements.
MENTIONED IN THIS ARTICLE
Washington
Treasury, Justice and Defense
U.S
Comptroller General
Congress
Elmer B. Staats
Congo
Atomic Energy Commission
South Africa
Commodity Credit Corporation
United States
Es Foreign Exchange
Defense Department
Europe
Staats
Agriculture Department