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...saving the country "from disaster." He pointed to the help that Bolivia is getting in U.S. technical cooperation for health, education, agriculture and roads. Siles put U.S. dollar help at more than $23 million for the fiscal year-plus an emergency $2,000,000 for Bolivia's drought-parched farm areas. He praised the "evident spirit of international cooperation" demonstrated by the $25 million currency-stabilization loan granted last December by the International Monetary Fund, the U.S. Treasury and the U.S. International Cooperation Administration, pointing to the boliviano's climb (from 13,000 to the dollar...

Author: /time Magazine | Title: BOLIVIA: Presidential Thanks | 8/19/1957 | See Source »

RESTLESS combines growled and rattled across the rippling wheat fields of the Northwest. In the South, newly picked cotton sped through gins and balers. Midwestern farmers sweated in fields of hay and ripe, yellow oats. Across the nation, the yearly harvest was under way, and despite drought in the Northeast, the worst in 35 years or more, many a U.S. farmer could agree with Fred Hill of Umatilla County, Ore. Pushing back his Stetson, lanky Farmer Hill, 44, cast an admiring eye over a field of ripened wheat and said with a grin: "The Lord's been good...

Author: /time Magazine | Title: National Affairs: THE $5 BILLION FARM SCANDAL Every Day In Every Way It Gets Worse | 8/19/1957 | See Source »

...yardsticks of common sense, the promise of a bumper harvest ought to measure up as an unmixed blessing. But in the U.S. of 1957, the soil's abundance has become a costly national problem that turns values topsy-turvy, makes good crop weather seem a national calamity and drought a boon. In a year of bountiful crops, the Agriculture Department will spend a record $5 billion, largely in an effort to cope with surpluses. Instead of going to markets, countless tons of the wheat, corn and cotton harvested last week will swell the $5.5 billion worth of farm surpluses...

Author: /time Magazine | Title: National Affairs: THE $5 BILLION FARM SCANDAL Every Day In Every Way It Gets Worse | 8/19/1957 | See Source »

...effort to hold down surpluses, Congress passed a soil-bank program to pay farm ers for taking acreage out of production. But the technological explosion makes such curbs futile. Last year, with strict acreage and marketing controls in effect, millions of acres in the soil bank and a severe drought pinching the Southwest, technology-armed U.S. farmers matched the biggest total harvest they had ever known. On land diverted from corn and wheat under acreage allotments, farmers bring in crops - barley, soybeans, sorghums - that compete with corn and wheat as livestock feeds. Result: bigger corn and wheat surpluses. "As soon...

Author: /time Magazine | Title: National Affairs: THE $5 BILLION FARM SCANDAL Every Day In Every Way It Gets Worse | 8/19/1957 | See Source »

...Rejected the pleas of the governors of drought-hit Connecticut, Rhode Island and Massachusetts that their states be designated "disaster areas" requiring emergency federal aid, thus offered little hope to New Jersey and Maryland farmers who are also suffering a crop-searing dry spell. The New England drought situation, said the White House, is "distressing," but "considerable" relief is available under regular agricultural programs...

Author: /time Magazine | Title: THE PRESIDENCY: Strictly Personal | 8/12/1957 | See Source »

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