Since Leon Henderson clamped down on sales of new cars in the U.S. two months ago, some 650,000 1942 models have piled up. That number would scarcely be enough to supply the demand in California and New York—if Californians and New Yorkers could have them. But they would be enough to give almost every automobile owner in Latin America a new car. They could take care of the entire U.S. export market (as of 1940) for three and a half years.

At Rio de Janeiro last month, Sumner Welles told Latin Americans they would get...

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