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Show AGRICULTURE Secretary Ezra fx Taft Benson's Jolt to the wheat farmers in pegging the wheat price next year at 75 of parity follows closely upon the feed grain price and the defeat of the corn bill, leaving the farmer farm-er the soil bank plan to bank on. And Just how much can he bank on that is problematical. It is estimated that Benson's Wheat ultimatum will add up to a loss of approximately $218 million mil-lion fur wheat farmers, which means $1.78 wheat if farmers approve ap-prove the wheat allotment In the referendum set for June 20. If they do not, it means about $1.00 wheat which could start prices into in-to a new downward spiral. The Benson figure means a cut from $2.00 wheat which was 82.S per cent of parity for 1957 wheat down 22 cents to $1.78 for 1958 wheat in the 36-state commercial area. Total To-tal acreage allotment remain the same at 55 million acres. The Soil bank program, keys payments to 60 per cent parity, which means a further loss for wheat farmers of about $30 million or a total of of $248 million dollars on the 1958 crop , . . providing they can get soil bank payments. Here's how unlimited payments under the soil bank program is working. At the present time there Is a limitation of $5,000 for payments made to a producer under the conservation-reserve program, but there is no limita-tion limita-tion either by law or regulation '. on payments under the acreage- ; reserve or soil bank program. As . a result some of the big non-farm i landowners are buying farms for i the purpose or "renting" them to 1 the ...Government. For instance here are a few soil bank payments: pay-ments: $61,354.50 to Garvey Farms, Colby, Kani.; $49,278.00 to Adams Bros 4 Co., Odebolt, Iowa; $48,093.00 to George G. Chance, R. R. 4, Bryan, Texas; $15,817.77 to J. W. B. Farms, Liberal, Kansas; $40,793.40 to Tom Moore, Navasota, Texas; $40,162.55 to J. E. S-o ard, South Windsor, Conn.; $.'A-282.00 $.'A-282.00 to Dunward Harper, Alvin, Texas; $29,829.51 to Kupch'inos Bros., Inc., Wapping, Conn.; $29,-723.53 $29,-723.53 to McCarthy & Hildebrrnd, 225 Sill Bldg., Bakersfleld, Cal.j $25,113.73 to W. T. Waggoner Trust Estate, Box U30, Vernon, Texas. According to Senator James E. Murray, of Montana, in his state non-farmers are buying some farms to put Into the soil brink as an investment, while large farmers are buying farms to put into reserves for a time, but ultimately ul-timately to add to their agricultural agricul-tural operations. Says Senator Murray: "As a byproduct of the soil bank, wa are undermining the American pattern of owner-operated family farming. A reasonable limitation on soil bank payments, whether conservation reserve or acreage reserve, would help to stop this trend. It may be necessary later to limit payments to actual farm operators if a constitutional way can be found to do so." Senator Murray and his colleage Senator Mike Mansfield, of Montana, are seeking to amend the Soil Bank Act to limit payments to $5,000 each on average and conservation reserve or a maximum of $10,000 to any individual in one year un- ' 3er the two programs. |