Word: brannaned
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Secretary of Agriculture Brannan recently outlined a new long-range subsidy plan to Congress. The plan has no new mechanism, but a combination of former plans that makes it revolutionary...
...major defect in the present method, by which the government maintains a minimum price by loans or purchases, is that consumers often suffer by high prices. The Brannan plan continues government loans and purchases for storable goods, about 25 percent of total farm output, but changes the price-setting formula. Producers are satisfied with this method and want it retained...
...effort to modernize the basis for minimum support prices, the Brannan plan includes a new and highly-complicated formula. The present support price is a flat 90 percent of parity, parity taken as the 1909-1914 period. A new plan, scheduled to go into effect in 1950, will allow prices to vary between 60 and 90 percent of parity. The Brannan plan, however, will base support prices for each year on the average of the ten previous years...
...lowly potato was costing the U.S. taxpayer more & more. Last week Agriculture Secretary Charles F. Brannan reported that the Government's wartime potato price-support program, kept alive by the 80th Congress, already had cost $200 million for the 1948 crop and would cost more before the year's output is disposed of. What's more, the Government's mass buying of 1948 potatoes (now at a husky $2.90 to $3.50 per bushel) was keeping prices up in the grocery store, so taxpayers were getting socked twice for every potato they bought...
Here & there-gasoline and some meats, for example-prices were still edging up. But prices generally seemed to be settling into an uneasy equilibrium. The commodity markets, which had been weak, rose slightly on the news of Secretary Brannan's new farm price-support plan (see NATIONAL AFFAIRS...