Word: glut
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Dates: during 1950-1959
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...staunchly Republican, 1,400,000-member American Farm Bureau Federation unanimously adopted a pro-Benson wheat plan that calls for lowering the support price from the present $1.77 a bushel under acreage controls to about $1.30 with no controls-a "lowering" that could well bring on the greatest wheat glut of all. In Washington, Chairman Morton, though privately gloomy about Benson's decision to stay on, did a public turnabout from Black Sunday, urged fellow Republicans to "sell" Benson in the farm belt, not sell him out. When Benson heard that news, an austere but unmistakable smile of victory...
...found on a seven-week trip through farm country in Iowa, Minnesota, Kansas, North Dakota and Wisconsin. Lubell's basic finding: the Midwest's farmers, who once had firm opinions about federal price-support programs, are now as baffled by the massive, $7 billion-a-year farm-glut scandal as the experts, the Eisenhower Administration and Congress (TIME, March 2). "Not a single farmer," Lubell reported last week for United Feature Syndicate, "could offer even a crackpot solution to the surplus problem." And a "sizable majority of farmers confessed they thought there might be no solution...
...show merely quivers on the launching pad. Its book is drab and uninventive; its songs are also-rans, though the trumpet-tonsiled Merman voice is always in the winner's circle. Jerome Robbins' dance spoofs are designed to show how funny-awful vaudeville was, and by sheer glut and garishness turn pretty gaudy-awful themselves. A Mermanly try at playing up Mama's spunk and jollifying her sadism fails when the script itself belatedly acknowledges that Mama is a bundle of neuroses and no fun to be with. Sandra Church's Louise is poignant and luminous...
Less than a year ago, the U.S. had such a glut of copper that the industry was asking for tariffs and subsidies. By last week copper supplies were, so tight that the price of copper was bobbing like a puppet. Custom smelters, who had been selling copper at 32? a lb., got out of the market for a week, came back at 34?-a lb. Major producers were selling copper at 31? a lb., v. last year...
...glut is giving the six-nation European Coal and Steel Community the severest test of its six-year history. Eliminating frontiers and the barriers that go with them, the Community had progressed smoothly on a rising market. But coal's current slump provides a painful reminder that although barriers may technically be gone, barrier mentality is far from dead. The pressures of economic self-interest have begun to resist the supranational powers originally granted by treaty to the Community's nine-man High Authority...