Tuesday, May 11, 2021
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Author: Bill Donovan

50 Years Ago: Wool market crashes; ranchers, traders reel

Navajo Tribal Chairman Peter MacDonald was facing his first crisis and it dealt with a problem he never even knew existed a month ago. His advisers warned him that if nothing was done thousands of Navajo ranchers would be facing enormous losses because the wool market had almost died in the past few months because of the increase in imported goods from overseas.

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