Word: soils
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Dates: during 1950-1959
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...million. Despite some demands for an increase to counteract the Soviet Union's new economic warfare, foreign aid is expected to cost about the same ($2.7 billion), with some shifts in emphasis to meet the new Russian activity. Support for the farmer, expected to include an expensive new soil-bank plan, will cost more than it does in this fiscal year. But almost every Government department has devised or been prodded to devise economies. As a result, the 1957 budget is expected to go no higher than this year's $64 billion...
...soil-bank proposal was one of six points that Benson, addressing the Republican National Committee in Chicago, outlined as the basis of his legislative program in 1956. The others...
Income from Conservation. From the total 356,250,000 U.S. acres now sown to non-sod crops, the soil-bank plan would take 16 million out of production in the first twelve months of a 15-year, $1.4 billion program aimed at eliminating 23 million acres. An eventual total of 1,000,000 U.S. farmers would be paid up to $5,000 a year, get $15-$20 an acre for cover-crop seeds, plus annual payments of 5%-7% of the appraised value of the land they convert...
Said Benson: "Its impact will be chiefly in areas where topsoil is being wasted in growing crops not needed by today's markets. It will mean better soil and water conservation [and] added income." While the last item was the key for farmers, the emphasis on conservation was a key to the plan's legality. Not forgotten was the adverse Supreme Court ruling in 1936 on the early Agricultural Adjustment Act, held unconstitutional because it paid farmers outright to restrict production...
...Going to Pot." The soil-bank plan, Benson warned his fellow Republicans, is "no nostrum." He called it a constructive "move in the direction we must go with a many-sided program." Indications of the pressure on Benson were evident enough last week, when hog prices dropped to the lowest point in 14 years, and U.S. farm economists met in Washington for an annual "outlook" conference that expressed much long-range confidence but brought little news of immediate cheer. For 1956, they foresaw a continued cost-price squeeze, though not so serious a one as the 10% farm decline...