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farm prices dropped below parity with the prices of all commodities, we had a depression. And he warned that the results of the current dislocation between raw material prices and consumer price levels, which are greater than at any time since the depression of the thirties, may merely have been postponed by deficit spending which has increased our national debt and is a mortgage against income of future year^.
In the fiscal year commencing next July the Government intends to curtail it's buying by five billion dollars and it is not clear what consumer group will fill that ypid. Certainly it will not be bur fanners because no plan has yet been offered that gives promise of increasing farm prices. To cut present support prices would undoubtedly lower prices. All are agreed that some plan must be found to prevent unmanagable farm surpluses but many farm leaders think it unwise to cut farm price support and farm prices while the Government is still spending billions to aid both business and labor. It was pointed out to the Senate in a recent speech by Senator Young of North Dakota that while the 1954 budget allowed $520 million for “aids and special services-' to agriculture, the same budget provided $1,003 million for aids and services to business and $222 million for aids and services to labor.
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