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In the 1970 s, the U.S. is again a sanctuary, tor foreign investors' money. While * Americans worry about energy dislocations, inflation, unbalanced budgets, foreign investors nevertheless apparently are convinced the US offers, as Newsweek magazine reported, the “world's safest haven for money.” And while the anxious American motorist watches the prices on the gasoline pump, the European businessman still views the US economy as the strongest in the world.
So strong that sometimes unconfirmed reports of extensive foreign investment in American farmland have worried some native farmers and politicians. So strong that Congress last year enacted a law requiring foreign owners of farmland here to report such ownership to the US Department of Agriculture.
The federal law requires foreign owners to register their holdings with the agriculture department by Aug. 6. Those who buy farmland from now on must report the transaction within 90 days.
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