Word: bensonized
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Dates: during 1950-1959
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...profit was by no means confined to the poor boy who made good; it also blessed many a well-to-do heir apparent. Among those whom service helped equip for heavy jobs waiting back home: Armour's President William Wood Prince (artillery captain), Ford's Vice President Benson Ford (Air Corps captain), IBM Boss Thomas Watson Jr. (Air Corps pilot). While an aircraft-carrier deck officer in three Pacific battles, Indiana's J. Irwin Miller, 49, gained the confidence it took to build the family owned Cummins Engine Co., Inc. into the largest U.S. maker of truck...
...vastness of the federal farm problem at year's end measures the failure of the hopes and promises that Agriculture Secretary Ezra Taft Benson brought with him to Washington nearly six years ago-and no one knows it better than Ezra Benson. In a speech last week in Los Angeles, like the legendary sorcerer's apprentice, he all but pushed the panic button in warning that the runaway price-support programs for wheat, tobacco and peanuts "might soon become disastrous." Said he: "We must complete our revision of the farm programs without delay...
...Benson has been the victim of a farm-productivity revolution, the combined workings of improved fertilizers, more and bigger farm machinery, deadlier pesticides and higher-yielding hybrid plants. But even his friends have begun to wonder whether he may have hindered rather than helped his announced aims. He justly carps at Capitol Hill's farm-vote-minded refusal to grant him all the support-shrinking powers he has asked for ("Our recommended program has never been given a real try"), but he has not always used the powers that he has to limit price supports, e.g., he voluntarily provided...
...trouble with Benson," said a ranking Agriculture Department officer last week, "has been that he talks as if he were the master of the problem, when actually he has been the slave of it." But whatever marks Benson deserves for his six-year effort, it is inescapably obvious that he is correct in his blunt demands for a new farm program to replace the depression-vintage, price-support apparatus, which operates like the unstoppable sorcerer's apprentice's broom-to make worse the problem it was designed to cure...
Uncertainty Removed. The big threat to the Treasury lies in the fact that Benson's scheme removes all uncertainty about what a farmer can get for his corn, no matter how big the crop. The price: $1.12 to $1.15 per bu., about 12? lower than high supports would have been, but 6? to 9? per bu. higher than the present price peg for noncompliance corn. At Benson's price, efficient growers can make good money on all the well-fertilized hybrids that their big tractors can cultivate...