Word: cottons
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Honestus: Controls on farm production are necessary to protect the Government from the consequences of its own price-support programs. The Government supports wheat, cotton and several other major crops at prices so high that it is profitable to grow these crops and turn them over to the Government at the support price. If there were no production controls, then any farmer with enough capital and know-how could grow as much wheat or cotton as he could find land to plant it on, then unload the stuff on the Government. Price supports and controls inevitably go together in agriculture...
Honestus: That's right. Despite very extensive controls, administered by thousands of Agriculture Department bureaucrats, farmers have dumped so much wheat, corn, cotton, cheese and other commodities on the Government that it costs the taxpayers more than a billion dollars a year just to keep the stuff in storage. Last year the Agriculture Department spent something like $7 billion, largely for price-support programs. That was more than twice the combined expenditures of the State, Justice, Interior, Commerce and Labor departments all put together...
...payments go to the big operators. A notable recipient of price-support payments in recent years has been the Delta & Pine Land Co., a sprawling Mississippi firm largely owned by British interests; it's been getting more than a million dollars a year in price-support loans on cotton. Another irony is that, while supposedly helping to preserve old-fashioned rural virtues, price-support programs tend to make U.S. farmers dependent on the Government and put before them abundant temptations to cheat. Also, while the Government is trying to curb farm production, it is simultaneously fostering increased production through...
...price supports or controls. Secretary Freeman wants to extend production controls to some of these still free products, but so far Congress has fought him off. The main supported crops are wheat, feed grains (corn, oats, grain sorghums, barley-so called because they are grown mainly for livestock feed), cotton, tobacco and dairy products. Price supports are also in effect for some relatively minor crops, including rice and peanuts...
...European Six; often their members belong to different currency blocs and lack common boundaries. The members of the "Casablanca bloc" that met last week in Cairo-Egypt. Morocco, Algeria, Ghana, Guinea and Mali-found that transportation among them is so primitive that Ghana still finds it easier to import cotton from Europe than from Egypt. Hoping to change this, the Casablanca powers agreed to expand their shipping, create an airline cooperative, and start a joint payments union. But, like nearly all the little common markets, the Casablanca-bloc nations produce much the same things and have little to sell...