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Abstract
Excerpt: The lack of balance in recent years between agricultural production in the United States and the effective demand at home and abroad for our farm products, and the efforts of the federal government to effect adjustments in supplies calculated to establish a better balance, are matters familiar to us all. Equally familiar is it that reliance upon planned crop reduction has been the subject of not a little criticism from economists and others on the ground that such reduction is predicated upon an economics of scarcity rather than of plenty. Whatever may be the merits of this contention - and surely it will not be denied that the agricultural adjustment program has been one major factor contributing to the great increase in farm income that has occurred during the past three years - there is one thing, at least, upon which all of us ought to be able to agree. We can, I think, agree that any really sound measures that can be taken to revive the demand for farm products at home and abroad will be to the good. If that is a mere platitude, it is nevertheless one which requires stating, if only for the reason that so many critics of the agricultural adjustment program have seemingly wished to “have their cake and eat it" by objecting both to crop curtailment and to the doing of market outlets for farm surpluses are to be revived and the need for crop curtailment reduced to a minimum.