Word: ccc
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...keep its promises . . . to the American farmer under the present price support program." With these politicking words for the folks on the farm, Michigan's Republican Congressman Jesse Wolcott, 28 years in Congress as "a friend of the farmer," last week suggested a bill to raise the CCC's borrowing power to $5.7 billion, an increase of a cool $1 billion...
Would even that whopping sum be enough to pay for the support program? As farmers wound up the harvest of the second biggest crop in U.S. history, CCC's present bankroll seemed none too fat. The corn crop alone might hit 3.5 billion bushels and granaries were still clogged by last year's 805 million bushel surplus...
...bumper crops would not bring cheap food; the support program would keep most prices up, despite the huge surpluses. During fiscal 1949, CCC poured out $3.1 billion for loans and purchases to keep up prices on 31 commodities, just about five times the outlay in 1948. At the fiscal year's end in June, the agency had $2.3 billion tied up in loans and inventories, showing a paper loss of $356 million for the year at current market prices. Most of the support money went for only seven commodities: cotton, $822 million; corn, $470 million; wheat, $640 million; flaxseed...
Last week, some 60 devotees-teenagers to greybeards-from 17 states had arrived at the converted CCC barracks near the Trapp Farm for the first of four summer "Sing Weeks." They paid from $70 to $90 apiece for ten days' board & room and the chance to study church music and folk songs with the Trapps and their music director, Father Franz Wasner, who is also the family chaplain...
...normal support loan) on wheat even if it was lying on the ground. The farmer would not be responsible if the wheat subsequently rotted; it would be graded according to its original condition. Once the wheat was stored, the farmer could draw the other 25% of his loan. The CCC will also build 50 million bushels of storage space of its own, lend farmers 85% of the cost of building their own storage facilities and, if necessary, store wheat in airplane hangars, Army igloos and other Government-owned property. Brannan even suggested emergency storage space for about 15 million bushels...