AGRICULTURE: Out of the Frying P.cm

When Congress last year ordered the Agriculture Department to subsidize cotton exports and thus cut the mounting surplus. Agriculture Secretary Ezra T. Benson hoped to send possibly 5,000,000 bales overseas this year, more than twice 1956 exports. Last week Agriculture officials totaled up the figures and announced that the program had succeeded far beyond Secretary Benson's prediction. At a cost of $442 million in subsidies, the U.S. will have exported 7,500,000 bales by Aug. 1, the highest since 1933. But before anyone could cheer, the Agriculture Department also warned that the...

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!