Word: wheated
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Operation Consume, the Republican program, offers to repay the farmer in kind for land which he agrees to take out of production. Under this program, no farmer would receive funds from the Federal government. Instead, for example, a wheat-grower will allow his land to lie fallow, receiving the equivalent amount of grain from the Federal storage bin. He would then sell this wheat at market prices...
Basically, the Kennedy plan is an extension of the one now in effect, which is losing over $1,000 per minute for wheat storage alone. Since 1953, farm wages have dropped approximately 24 per cent over those of the preceding decade. The purpluses continue to mount...
...more dramatic gesture to reduce surplus, both candidates have proposed to dump it on needy nations. Though undoubtedly benevolent, this idea is not so simple as it appears. Were the United States to distribute free wheat abroad, the international market would react like a man with dropsy...
...conservation reserve" (land taken out of crop production and planted to grass or trees). During a "transition period," while Operation Consume plus the expanded conservation reserve gradually cut back surpluses, Nixon would use a combination of price supports and acreage controls to cope with major problem crops such as wheat-a Democratic-style program of the type that Agriculture Secretary Ezra Taft Benson opposes.* But once markets for farm products "achieve a new buoyancy," Nixon would shift to a Benson-style support program with no production controls, and support levels "based on the average of market prices over the immediately...
...management equal to that which similar or comparable resources earn in nonfarm employment." It would be achieved through "supply management," another new phrase, meaning a mixture of "land retirement" and marketing quotas. The quota system would involve much more Government control than any of Nixon's proposals: every wheat farmer, for example, would get a federal certificate entitling him to market a specified quota based on his "historical record of production." To get a marketing certificate, a farmer "would be required to retire a small fixed percentage of his wheat acreage...