Word: rea
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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...
Chile's Linea Aérea Nacional, for example, is subsidized by the government, does a sedate business at I.A.T.A. rates by ap pealing to national pride. Others offer special services, such as the direct European flights of Panair do Brasil, Cubana Air lines and Colombia's 38-year-old Avianca...
...federal agencies will charge as much to lend money to public as Treasury pays to borrow it. But Administration's plan will run into congressional trouble because many beneficiaries of low rates are lobbying hard against it, e.g., National Rural Electric Cooperative Association, which fears plan would raise REA loan interest from 2% to going Treasury long-term loan rate...
...must go on to assure ample credit at fair rates to the farmer who has to borrow money. We must protect REA co-ops by safeguarding and using the preference clause and by assuring them adequate funds for transmission, generation and distribution. We must conserve the greatest asset we have inherited-the soil . We must strengthen the agricultural conservation program and the Soil Conservation Service, restore the role of leadership to the conservation districts, restore the administration of agricultural programs to farmers, and take emergency measures when needed to prevent another dust bowl...
...elegance. Lord Conesford agreed, pointed out that h words that are not accented on the first syllable demand an. "I believe," said he, "that every one of your Lordships would say 'a Harrow boy,' but would also speak of 'an Harrovian.' " But what, asked Lord Rea, would Lord Conesford do with one-syllable words? "In the case of an inn sign of a public house, would he look at it as 'A Horse and a Hound' or 'An Orse and an Ound'?" Lord Merthyr fell back on no less an authority than...