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»«W IV* v -- one point, rites of p..y nent were miscalculated, and approximately $800,000 was oblip *ed improperly before the mistake w\: discovered. Another bidden: r.'d to the ' committee was the .<• ~ of State lands iff Colorado f< ','1 P® acre a year by individual, who then planted grass, 80 per c;nt of the , ,st of which was borne by the 1 -deral Government, and rented i c tand to the soil bank for $6.50 t $7.50 per acre a year.
Department of Agriculture of,als
assured the committee they i ,! plugged up some of the loop\ V with changed regulations but i cnowledged that they could not oid contracts already in force.
One way to raid the soil bank > > as to divide up land among re* atives to get ardund the $5,000 limitation on annual payments on • single farrrting operation. In Texas where the soil bank has been very popular, one family’s soil bank income was raised from $5,000 to $19,6% per year by sUth a maneu~ ver. The 10-year contract will pay out $2000,000 in this case. Selling land at inflated paces
-he understanding that the buyer* could pay for it with the soil twu-. money they could obtain
50.1%