Word: cotton
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...past Agriculture research projects have come frozen orange juice and instant mashed potatoes, stretch-cotton fabrics and machine-washable woolens, cheaper penicillin and longer-lasting blood plasma. Projects now in the works promise a wild-green-yonder of even greater farm abundance-and, of course, threaten bigger surpluses. The department's scientists are breeding new, higher-yielding varieties of wheat; they are trying to devise ways of making grain crops and grasses add nitrogen to the soil instead of subtracting it; they are combatting the boll weevil and other crop-destroying insects by sterilizing male insects in laboratories, then...
Created during the Great Depression, the support-control system is much the same as it was in the New Deal days, only bigger and more complicated. In its current operations, the Agriculture Department uses a device called "crop loans" to support prices of wheat, cotton, rice, tobacco, peanuts, corn, oats, rye, barley, and a few other storable crops. Within certain restrictions, a farmer has a right to place all or part of his crop in certified storage and get a Commodity Credit Corp. loan on it at the support price. Later the farmer may repay the loan, reclaim his crop...
...much produce that the handling and storage costs alone amount to roughly a billion dollars a year. The CCC's inventories (not counting the farm products stored under current crop loans (include 972 million bu. of wheat, 712 million bu. of corn, 4.7 million bales of cotton, 484 million Ibs. of dried milk...
...Cotton Comedy. On paper, the support-control system has a semblance of logic to it. In practice, the system has functioned as clumsily as a bull on stilts...
...cotton subsidy program, which costs $500 million a year, is just one blade of the scissors that the textile industry finds itself caught between. U.S. foreign policy is the other. More than 50 countries have virtually embargoed U.S. textile imports by one means or another. Japan last year exported 135 million yds. of cloth to the U.S., but permitted U.S. imports of only 490.000 yds. The State Department resists imposing stiffer import quotas and tariffs because it does not want to damage the economies of nations that the U.S. is trying to prop up. When President Kennedy himself proposed...