Business: Swap

The U.S. Government, which went on a buyer's strike against world tin prices last March, ended it last week. The terms of the settlement were something less than a U.S. victory. They were part of a U.S.British swap of raw materials, worked out by President Truman and Prime Minister Churchill.

Britain will get steel—1,000,000 tons of it—in return for 20,000 tons of Malayan tin ore and 55 million pounds of Canadian aluminum. The U.S. will buy the tin outright at $1.18 a pound, f.o.b. Singapore. The aluminum will be sold by Canada*with the understanding that the same quantity will be sold back...

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