AGRICULTURE: The Price of Parity

Here the Red Queen began again. "Can you answer useful questions?" she said. "How is bread made?"

"I know that," Alice cried eagerly. "You take some flour . . ."

In its midyear report last week, the President's Council of Economic Advisers hailed the prospect of bumper crops as the one strong force which "should be of signal aid in checking of inflation." But was it? Thanks to the farm bloc and the Government crop-support program, the answer seemed likely to be no, at least for months to come.

The abundance promised by agriculturists last week caused another sharp drop in all...

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