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Dates: during 1950-1959
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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...
...word" by raising REA interest rates. Senate Democratic Leader Lyndon Johnson sounded a call to man the barricades against any Administration attempt to raise the interest rates: "We will fight them with beer bottles. The time has arrived when you must ask no quarter and we must give none.'' House Speaker Sam Rayburn, co-author of the 1935 act that created REA, asked plaintively: "Why not a little subsidy for the millions who, until a few years ago, were the underprivileged...
What had happened? Explained an embarrassed Electricity Board technician: "There was a break in the neutral connection in the three-phase supply that became unbalanced." None the wiser, the citizens of Carlecotes presented the board with the biggest electrical bill in the village's history. "We'll repair or replace everything damaged," promised a harassed official...
...Capitol Hill there were signs of an early spring thaw. Mellowed by his long bout with cancer (TIME, Feb. 16), Oregon's Democratic Senator Richard Neuberger went back to work, was greeted on the Senate floor by a crowd of well-wishers, headed by none other than his frosty old foe and senior colleague, Wayne Morse. Said Morse: "It is good to have him back with us." Replied Neuberger gaily: "So far as I am concerned, we will work together." Putting words into action, the two showed up for an Oregon centennial party next day, jointly labored through...
...Several methods of bouncing the less desirable men have been tried, but none were successful," a second girl from Briggs noted. Holmes Hall will attempt to solve the "unwanted-guest problem" with private invitations...