THE SOIL BANK: A $700 Million Failure?

WHEN Congress last year created the soil bank, it hoped that by paying farmers to take land out of cultivation of price-supported crops a big bite would be taken out of farm surpluses. Both parties were so sure the bank was a good thing that they endorsed it in their platforms, even quarreled over who thought it up in the first place. A fortnight ago, as it appeared that the soil bank this year would cost more than $700 million, the House voted to eliminate $500 million in funds requested to operate the soil bank in 1958, in effect...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!