Word: glut
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Dates: during 1950-1959
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...Glut of Side Dishes. For all his first mistakes, Eugene Meyer, known affectionately to his staff as "Butch," worked wonders. He built a national bureau to cover the Government, patterned after the Washington bureaus of the big Manhattan dailies. He developed an editorial page that, under Felix Morley, began at once to show insight and vigor, gain national prestige. By 1946, circulation had more than trebeled...
...Ottawa, where the wheat glut is the government's No. i political problem, there was such satisfaction over the orders that few people paused to consider why the Reds had placed them. In the past the Iron Curtain nations were wheat exporters themselves. The surprisingly big Soviet order for Canadian wheat, which is to be delivered to Siberia, was supposedly placed in order to spare the Russians the trouble of rail-hauling grain from the Ukraine. But if that were the case, there should be surplus grain on hand in western Russia for satellite Poland, Czechoslovakia and Hungary...
...PORK GLUT is getting worse despite a Government buying program. Farmers are sending so many hogs to Midwest markets (170,000 head in a single day last week) that prices have slumped to $12.75 per 100 Ibs., down $1.25 in a week and the lowest level in 14 years...
...wartime demand. In the present situation, the logical aim is exactly the opposite-to encourage less, not more production. The greatest drag on the farm economy in 1955 was created by 90% of parity, which encouraged too much production after war demand ended. The result was a $7 billion glut of farm products hanging over the market. When it was encouraging the building of these burdensome surpluses, the 90% parity plan did not keep prices up. All but 3% of the farm-income decline since 1951 occurred before January 1, 1955, while the high rigid supports were still in effect...
...economic problem approaching national scope is in agriculture. Burdened by a glut of surpluses piled up under the old rigid price-support program, the farm economy has been moving downward. The Eisenhower Administration is standing steadfastly behind the principle that the whole economic farm situation will be better, in the long run, if the new flexible price-support system, which is based closer to supply and demand, is given a chance to work...