Word: bensons
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...billion) on new plants and equipment than in 1954, largely because of a 40% spending cut by automakers from the record $1.3 billion new-model outlay in 1954. Some industries, e.g., textiles and coal, were still in trouble. The farm problem was still tremendous. Though Agriculture Secretary Ezra Benson won a notable victory in his fight for flexible supports-and farmers, like investors, seemed willing once again to take a chance-the surplus commodities held by the Government totaled $6.6 billion at year's end v. $4.2 billion in 1953. Union labor, which was as cautious as businessmen during...
...replaced O'Neal with Allan Blair Kline, a prosperous Iowa hog farmer (who had managed well enough during the Depression to build a swimming pool on his farm). Kline damned controls, helped kill the Brannan Farm Plan and then helped Secretary of Agriculture Ezra Taft Benson push a flexible price-support law through Congress this year. Last week at the Farm Bureau's annual convention at New York, President Kline announced he was resigning because of ill health. In this change of leadership, however, there would be no change of policy...
...last week's convention the bureau showed how deeply it feels its responsibility for a sane farm policy. Although it is solidly behind Benson, it scolded him in a resolution for removing "cross-compliance" regulations, which prohibit farmers who accept high support prices and quotas on one money crop from diverting acres made idle by their quotas to other surplus crops. The provision has been unpopular with some farmers and Farm Bloc Congressmen, but the Farm Bureau feared its loss would swell surpluses. The convention also resolved to oppose any attempt to revive high, rigid supports. As Benson himself...
...President named Dodge as chairman of a new Council on Foreign Economic Policy, whose other members will be Secretary of State Dulles, Treasury Secretary Humphrey, Commerce Secretary Weeks, Agriculture Secretary Benson, FOAdministrator Stassen and three top White House aides...
COTTON-PRICE PROPS will probably be held at 90% of parity again next year, providing farmers vote to approve an 18.1 million-acre planting allotment as expected. Agriculture Secretary Benson has all but promised farmers that he will keep props high, although he could push them down to 82.5% under the new flexible price law. However, if farmers turn down acreage quotas in their vote this week, the props will automatically drop...