Word: less-than-cost
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Born during the Depression, REA sought, by offering loans at a less-than-cost rate of 2% interest, to bring electricity to thousands of farm families that had none. REA did its job, and well: now more than 95% have such service. The necessity for a federally subsidized REA system has obviously decreased with REA success, yet REA has continued to grow as a dug-in interest, representing assets, loans, etc., worth billions and often generating as much political as electrical power...
...would be putting another nail in the coffin of freedom. It would 1) permit a Communist industrial speedup that would enable them to beat (with their usual subsidies) Western bloc quotes in export markets hitherto untouched by them; 2) free more money for the U.S.S.R. to lend at less-than-cost interest rates to uncommitted neutrals, thereby winning favor and using them up economically. Yes, trade with the Communists, but restrict the goods to food and consumer items...
...cold winds blew 12,000 of them back. After 1931, when the Japanese across the Amur River in Manchuria were considered a threat to the Trans-Siberian Railroad, the Soviet Government sold land and the necessary farming equipment to Jewish settlers in Birobidjan for a less-than-cost fee of $200. But by 1939 the total population of Birobidjan, including earlier, non-Jewish settlers, had reached only...
...Early in May, in a recorded broadcast, President Roosevelt reminded listeners to 150 U. S local stations: "Aside from some financial as sistance, in the form of less-than-cost posta rates, the Government has supported the press chiefly by protecting its freedom...
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