COMMODITIES: Let 'em Eat Cake

Another monument to the strange economics of the Government's price-support program (see NATIONAL AFFAIRS) was on view last week. It consisted of 4,000 tons of cottonseed, piled high on the concrete tennis courts of a former naval air station in Oklahoma City. Bought and paid for by the U.S. taxpayer (through the Commodity Credit Corp.), the cottonseed seemed destined for the same fate as the mountains of potatoes, eggs and other commodities which the Government in the past has bought and let rot.

But cottonseed producers were happy. Southern Congressmen had pressured CCC to buy the seed from farmers at...

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