Word: cornelis
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Country people are often reluctant to confide in strangers, but their alarm is such that Willard Treu, a wheat, milo and corn grower, rushed up to TIME Correspondent Barbara Dolan when he heard her asking about farm problems at the John Deere store in Quinter, Kans. "I'm scared," he said. "I'm 61 years old and 41 years a farmer, and this is the worst time I've been through...
...heavily subsidized farmers of the Midwest, where prices on such crops as wheat, corn and soybeans have been particularly depressed, seem to be suffering the most. The rural South has also been hard hit. California, with its wide diversity of crops (more than 200 in all) and clement weather, is faring better, but even there growers are worried. Because the large Eastern markets are close, mid-Atlantic farmers have avoided the export crunch that has badly hurt the heartland...
...million lbs. of cheese that the Government has bought and is holding in storage--more than 3 lbs. for every man, woman and child in the country. Other unsold mountains, including goods stockpiled by farmers with Government help: 1 billion bu. of wheat, 650 million bu. of corn. And as a crowning irony, the act has left many farmers, after 52 years of Government protection, little better off than their forebears were during the Great Depression that gave birth to the farm price-support system...
...repaying it during the '80s, has crimped their ability to buy American-grown food. The remarkable strength of the U.S. dollar against foreign currencies is perhaps the biggest cause of all; it forces overseas buyers to pay out more francs, pounds or yen to buy American wheat, corn or soybeans. The muscle-bound dollar is primarily an ironic consequence of gargantuan U.S. budget deficits, which keep American interest rates high and entice foreign investors to convert their currencies into dollars, bidding up the greenback's price, in order to pour money into American investments...
...which would replace the Agriculture and Food Act of 1981 that expires next Sept. 30, would sharply pare back subsidies over the next five years. It would slash price-support levels and phase out payments that now bolster the earnings of producers of such major commodities as wheat and corn. In addition, it would cut federal outlays to growers who are paid to leave their land fallow in order to hold down the supply of crops and thus keep prices firm...