Word: bushel
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Dates: during 1930-1939
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...were tough in Walla Walla, Wash, (pop. 15,976) in the spring of 1932. The tariff wall which Canada hoisted in the early '205 had finally cut off the valley's chief market for fresh fruits, asparagus, tomatoes. Moreover, its wheat was going begging at 50? a bushel...
...thus far went last week to Ohio's Senator Robert A. Taft. In Des Moines, Iowa, corn kernel of the country, Mr. Taft bluntly announced his wholehearted opposition to the New Deal's corn-loan policy-on the very day the Agriculture Department announced a 57?-per-bushel corn loan, thus pouring into the State about...
Commodity price levels began at once to get out of whack. Countries which had wheat to spare-particularly the U. S., which was blessed with a bumper crop in 1914-suddenly discovered themselves in a strong seller's market, with the price per bushel rising from 85? in July to $1.28 in December. Rye went up; so did lard; so did sugar. But no general inflation of prices occurred immediately. It was as if someone had turned on a strange magnetic current which attracted certain commodities, repelled others...
...farmers outside the South were far from unemployed. Food prices rose even higher than the prices of industrial goods. As more and more wheat lands went out of production in Europe, wheat reached a dizzy $2.33 a bushel, and U. S. farmers borrowed heavily to increase their acreage; the total farm mortgage debt for the U. S. increased from $3,320,470,000 in 1910 to $7,857,700,000 in 1920. And during this same War decade the average value of farm land in the U. S. rose from $39.60 an acre...
With corn at 40?, farmers who had borrowed 57? a bushel on 257,000,000 bu. started to unload about 100,000,000 bu. on Commodity Credit Corp. Hurriedly Secretary Wallace bought steel bins to hold 50,000,000 bu., hoped this would prop up the sorry corn market...