Word: wheat
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Dates: during 1930-1939
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...argued that present low prices are due more to bumper weather (even the Dust Bowl bloomed this year) than to any serious defect in the Act. But in spite of the most far reaching crop control laws ever enacted, all three major U. S. crops are in trouble. Wheat, with a near-record crop of 940,000,000 bushels and a whopping 300.000,000 bushel carryover in prospect for next year, has stumbled to 50? a bushel on the farm (against $1.25 in 1936). A plan to subsidize export of 100,000,000 bushels has been so snagged by record...
Taking his courage in both hands, Secretary Wallace last week set out to talk to wheat farmers at Hutchinson, Kans. and-cotton growers in Fort Worth, and promised to talk next week to corn farmers at Springfield, Ill. "Fight for the program that you have," he urged, then revealed what he thought should be done to AAA II to make it work...
...surest way for wheat farmers to get their fair share of the national income," said he, is for the Government to give the farmer the difference between his market price and what his crop would have brought in some Golden Age like that of 1909-13. Such payments are authorized in principle by AAA II whenever appropriations are made for them. Mr. Wallace boldly suggested that the best way to finance the payments would be to revive processing taxes, which the Supreme Court found illegal. "Why not use this kind of a tax once more?" he demanded. "We know...
Other reactions to peace were equally logical. Foreign bonds led a zooming bond market. Sterling jumped 13? in one day. Prices of the "war commodities"-wheat, sugar, cottonseed oil-plummeted; other commodities-rubber, silk, hides, cocoa, cotton-zoomed. Marine insurance rates on war risk for gold shipments were cut in half. Brokers resumed plans for new financing, which had sunk to the lowest September volume in three years. And with the overwhelming question of war at least postponed, U.S. businessmen returned to the question of business prospects...
...Cornell to teach, Franklin Roosevelt promoted Deputy Governor Forrest Frank Hill to his job. "Frosty" Hill has been with FCA since it was created in 1933 to merge a handful of uncoordinated agencies and save the U. S. farmer from foreclosure. As a boy he worked on a wheat farm in Saskatchewan, got a first-hand knowledge of soil problems. A shrewd banker with an incredible memory for figures, Governor Hill still talks like the farmer he was born in Kansas...