Price Supports and the Outlook for Agriculture
Scheduled expiration of wartime price supports for agricultural commodities at the end of 19481 has forced Congress once more to take up the whole complicated problem of keeping farm income in balance with the income of the non-farm population. Unless Congress passes new legislation at its present session, government floors under farm prices will drop next year to the much lower levels prescribed in farm relief legislation of the 1930's.
The need for revision of the “permanent” price-support laws adopted under the New Deal has long been recognized. President Truman warned more than 15 months ago, in his annual message to Congress, Jan. 5, 1947: “We must not wait until the [wartime] guarantees expire to set the stage for ...