Word: aaas
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...Consumers' Counsel of AAA calculated that retail food prices had risen 12% in a year. The National Industrial Conference Board calculated a 21.5% rise in food prices from April 1933 to the close of last July. With bigger price rises ahead, consumers might find the prospect gloomy but the Department of Agriculture officially reassured them: "What shortages do exist can be compensated for by shifts in the diet to use more of the foods which are available in abundance. As a whole, these shifts can be accomplished without any severe burden on consumers as to cost, or any material decrease...
...brokers awaited news by cable from the nation which grows more than half the world's cotton. Then at the stroke of noon Washington flashed out its best judgment on the 1934 cotton crop: drought in the rich bottom lands west of the Mississippi River had combined with AAA acreage reduction to bring the crop down to 9,195,000 bales-25% below last year, and the lowest, with one exception, in 38 years.* This was more than 1,000,000 bales below the maximum set by the Bankhead Act and about 200,000 bales below the best private...
Critics. Although AAA defenders concentrated their fire of words on "Tories," "Old Dealers" and "Speculators," these same "Tories," "Old Dealers" and "Speculators" had surprisingly little to say last week. Fortnight ago Henry P. Fletcher. Republican National Chairman, charged that Democrats had deliberately held up AAA's benefit payments to farmers to use them later as election bait. With a great display of political righteousness, Secretary Wallace loudly reproved him: "It is a contemptible thing, indeed, for a man of Mr. Fletcher's intelligence and standing in the Republican Party to make, deliberately for partisan purposes, a completely unfounded statement designed...
Real opposition to AAA was of long standing but had not been taken seriously by Democratic politicians until Drought painfully sharpened arguments against their whole program. Prime criticism...
...problem was encountered: how not to produce too much. Just as Industry, able to produce far more than the U.S. had the money to buy, could be saved only by NRA from cut-throat competition, so farmers producing too much wheat and cotton could be saved only by AAA's crop reductions. But hardly had Dr. Tugwell last week finished telling his radio audience about the "economy of abundance" when up popped a government-paid economist to deny its existence. According to this latest New Deal critic, the "economy of abundance" is the product of "mental astigmatism" and distorted statistics...