Word: wheats
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Dates: during 1950-1959
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...highest standards of living, it also has mounting financial problems. The national debt total for the past three years is $72,800,000, and the government has plans to borrow another $190 million. Wool sales are lagging behind because of low prices on the world market. A wheat surplus, spurred by government subsidies, is snowballing. To complicate matters, the subsidies have encouraged cattlemen to reduce herds and convert pasture land to wheat. As a result, many of the country's packing and canning plants are idle, and Uruguay has been trying to import beef cattle from Argentina to keep...
...from Washington next day, some Cabinet members were less game. Douglas McKay said he had spent the trip trying to estimate what a helicopter costs, concluded that it was "probably too much." Said White House Aide Fred Seaton: "They ought to give them to the farmers to flail wheat." Remarked Sinclair Weeks (who came by car): "I'd just as soon ride in a boiler factory." "Gratitude & Appreciation." Despite the unsettling side of "Operation Banana" -a highly successful exercise in Government mobility nonetheless-Administration leaders last week settled down at Camp David for conferences with the convalescing President...
...million on a wheat loan. C| $161 million in silver, lent to support India's currency...
Today the real farm problem is over-storage, not overproduction. Despite a huge surplus-disposal program, the U.S. Government still holds 6,327,000 bales (a year's supply) of cotton, 913,000,000 bushels (a year's crop) of wheat, 657,703,000 bushels (three months' supply) of corn, and hoards of butter, cheese, dried milk, barley, beans, flaxseed, sorghum, oats, rice, rye, soybeans, honey, peanuts, tobacco, wool, winter cover crops, linseed oil, olive oil, tung-nut oil and whey. Except for these market-depressing surpluses, the consumption of U.S. farm products in 1955 would...
...government to guarantee bank loans to farmers with stocks of unsalable grain. The scheme disappointed many farmers, who had hoped for straight cash advances on their crops. Meanwhile, Ottawa prepared to send a delegation of trade experts to Geneva this week to fight for renewal of the International Wheat Agreement and its system of orderly marketing. If they fail, the international fire sale in wheat may start in earnest...