Business & Finance: Recoil

Somewhere off San Francisco, its radio silent and its whereabouts unknown, the Japanese liner Tatuta Maru lay in wait early this week—unwilling to land until it was sure its cargo would not be seized as a result of U.S. freezing orders (see above). The cargo: $2,500,000 worth of raw silk, which a special train waited to take to Eastern mills.

The Tatuta Maru was a symbol of the recoil the U.S. would have to brace itself for if President Roosevelt chose to fire his new economic weapon. The U.S. last season got only 18% of its silk from China and other minor...

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