Word: farmlands
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Dates: during 1981-1981
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Meanwhile, the minuscule economic elite of El Salvador is doing very well, living off the export of coffee, sugar cane, and cotton. Two per cent of the country owns over 60 per cent of the farmland, and 5 per cent of the people receive 50 per cent of the income. A corporation president in El Salvador recently told the truth: "It is a class war," he said. It does not take Fidel Castro to tell people they are being repressed, starved, taken away in the middle of the night, and shot down in the streets. A revolution was coming...
Between 1959 and 1969, Derold Happel and his wife Brenda rented up to 300 acres of fertile farmland in Iowa's Benton County, northeast of Des Moines. They longed for land of their own, but they had no assets they could mortgage to get a big enough loan from local banks. A friend told Happel about the Farmers Home Administration. He borrowed $60,000 for 40 years at 5% from FHA and bought 120 acres of prime land with the cash. Today he owns 275 acres, rents 500 and farms 425 more for an absentee owner. Without FHA, Happel...