SPAIN: Oranges for Wheat

Before its recent civil war, Spain carried on a thriving trade with France and Great Britain. With France trade was nearly always balanced, but with Britain Spain usually had a big export surplus, which gave her pounds sterling to use in world markets. The civil war finished all that, but long before Generalissimo Francisco Franco's final victory, Spain had a substitute. Nazi traders moved in in numbers and organized an extensive, mutually satisfactory German-Spanish barter trade.

At civil war's end Generalissimo Franco, still holding a grudge against Britain and France for their long refusal to recognize his Government, snubbed British...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!