Word: bensons
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High price supports in recent years led to bumper crops and, eventually, an enormous surplus: 1 billion bushels of wheat, a whole year's supply (which cost the Government $2.5 billion, plus $150 million a year for storage fees). Agriculture Secretary Ezra Taft Benson cut the planted wheat acreage from 79 to 55 million, while the support price dropped from $2.24 a bushel to $2.06. To qualify for support payments, farmers had to accept quotas and acreage restrictions. They complained but complied. Result: the harvest fell from 1,300 million bushels in 1952 to 839 million this year...
John Howard Benson, artist...
...Church (membership: 516,968, fifth largest of the 18 Lutheran bodies in the U.S.) pondered the current shortage of pastors (857 available for 1,211 congregations), protested that "political expediency" in Washington has held up operation of the 1953 Refugee Relief Act, re-elected the Rev. Dr. Oscar A. Benson of Minneapolis for his second four-year term as president. Hottest issue of the convention was a proposal made by the United Lutheran Church in America (membership: 2,061,004) that Augustana join with U.L.C.A. in inviting "all Lutheran Church bodies to participate in merger discussions looking toward organic union...
WHEAT SUPPORTS will drop to their lowest level since the war, whether or not farmers approve strict marketing quotas for 1956. If farmers approve the quotas, Agriculture Secretary Ezra Taft Benson will peg prices at an average 76% of parity, v. 82½% this year. If farmers kick over the quotas, the support price will automatically drop to 50%. Benson's reasoning on the 76% figure: with forecasts for the smallest wheat crop (845 million bu.) in twelve years, 1956 will be a good year to cut down the mountain of surplus farm products that the U.S. must...
...follow Hughes's example, it may wreck the delicate mechanism of the whole price-support program. Next month wheat farmers will vote on whether to accept acreage restrictions again this year, and many experts think they will vote against them. If so, it will be up to Ezra Benson to figure out a way to avert a sudden market collapse...