BARTER PLAN FOR FARM PRODUCE

Press, Volume LXXXIX, Issue 26970, 20 February 1953, Page 9

BARTER PLAN FOR FARM PRODUCE

Disposal Of Surplus U.S. Stocky WASHINGTON, February 18. The United States Agriculture Department is studying a new plan te barter, through normal commercial channels, surplus United States farm products for foreign manufactured goods. Reuter learned today. Described by its sponsors as a gate- ( way through the tariff wall, the plan has the bipartisan support of Congressmen from the wheat, cotton, and tobacco States who are worried about falling prices and shrinking overseas » markets.

However, the legislation now being prepared is expected to meet opposition from the manufacturing interests, who foresee increased opposition from imports. The idea is that European and other nations needing farm products could get them from the United States in exchange for manufactured goods on tfhich. they would receive a tariff bonus to encourage trade. The main objective is to create markets abroad for the agricultural surpluses piling up in the United States. The plan was put before the Secretary of Agriculture (Mr Ezra Benson), who. in a letter to the chief sponsor. Senator James Eastland, exnressed much interest. Mr Benson said that department’s economists were studying the plan. Senator Eastman said the plan could provide\overseas friends with needed food ana raw materials without the use of their scarce dollars, solve the problem of markets for United States surplus farm products, keep the domestic market stabilised §nd generally stimulate would trade.