BLYTHEVILLE, ARKANSAS, MONDAY, AUGUST 81, 19W TUESDAY, SEPT. 22, 1953 Freer Farm Policy Needed, Sec. Benson Tells Bankers By FRANK O'BRIEff WASHINGTON (AP) — Secretary of Agriculture Benson tojd bankers today the nation' farm policy should veer away from what he called centralization of power and undue depend ence on government, and that they could help strengthen the rural economy. His t-a* was prepared for the convention of the American Bankers Asen. In another prepared speech, W. Harold Brenton, president of the association, said bankers must became "sound money" missionaries throughout the country, if financial disturbances calling for government intervention are to be avoided. President Eisenhower speaks informally to tre bankers today (9 a.m. EST). His administration's money poii* cies have been praised consistent- Jy by speakers at the convention. Benson said a new farm pro* gram based on the principles o: economic freedom was needed. He said inadequacies of the presen' program included: 1. Failure to build farm markets at fair prices. 2. Interference with needed adjustments in farming. 3. Tendencies to price crops such as wheat and cotton out of world markets and dairy products out of domestic markets. 4. Failure to provide farmers with incentives for progress. Benson called upon the nation's bankers to stay with their farmer customers "even when weather or economic conditions make debt re"-'ri«nt less fnvnrnble." ' "Prospects for American agriculture nre good," he declared. He said employment is high, consumers are demanding a good diet, and the population is increasing- all operating, he said, to form a sound basis for farming. "Rural banks are faced with a wonderful opportunity to strengthen the rural economy," he said. Appealing lor help in preserving "our free enterprise system," the secretary said that in recent years "our thinking people have become more and more concerned about the rapid trend toward government ownership." "Too many Americans are calling on Washington to do for them what they should be willing to do for themselves," he said. Brenton, a Des Molnes, Iowa, banker,, remove snid the "bankers must help mystery that surrounds the maintaining of sound money." The association president said that "much of the criticism of bankers in government is made by those,who fail to realize that many of our problems in government are financial and it is logical to call on those who have made a success in the field of finance." Minor Decline Seen He suggested more bankers should be provided with education on national monetary and fiscal problems and that small bankers especially should "speak out" in the. interest of money policies which prevent inflation. The generally optimistic tone 01 the convention was shadowed bj forecasting of some letdown from the present record level of ceo nomlc activity. Caslmir A. Sionkiewicz, presidonl of the Central-Penn National Bank of Philadelphia, told the Nationa Bank Division late yesterday that "we're in for a minor business drop." But, he said, this would not have the proportions of a recession and would be only one of the "occasional, bumps" he said were to be expected in a free and active economy. Slenkiewicz guessed that the drop would be between 5 and 10 per cent, measured by the Federal Reserve Board's index of industrial production. Survey Shows Individuals Own 87.8 Per Cent of US Farm Land WASHINGTON W—There's a lot of farm land in the United States. Who owns it? Two government experts checked into the matter anu came up with this answer: Individuals own most of it but corporations and the federal and state governments hold sizeable chunks. BuIG T. Inman, of the Bureau of Agricultural Economics, and H. E. Robison, of the Bureau of Census, .nade a sampling of 1950 agricul- ,ure census figures on land ownership and concluded that of the .,158,566,000 acres of farm land in ,he country: 1. Individuals, partnerships and estates own 1,017 million acres or 17.8 per cent; 2. Corporations nolcl title to 51 million acres or 4.4 per cent; 3. Federal, state and local governments own 4.2 per cent with the •emaining 3.G per cent Indian land. These percentages, the two re)ort, show no great change from 1045. The percentage of individually owned farm land varies considerably from region to region and state to state. In the 17 western states, which contain about CO per cent of the nation's farm land, individual holdings constitute only 81 per cent. In the states east of the Great Plains individuals own 98 per cent of the farm land. Individuals own 98.1 per cent of Arkansas farmland. Corporations hold 1.4 per cent of the cultivated acreage. South Korea Has Holiday SEOUL W) — South Korea today observed her centuries old traditional Chusuk holiday — similar to Thanksgiving day in America. For the first time in three years, the war-stricken people celebrated it by closing their shops and most of the government offices. doz. Orang«i 3 lt». Cab!x>9« I loot Ir<o4 I Ib. Lord 1 peck Potato! 1939 '40 '41 '42 '43 '44 '45 '46. '47 '48 '49 '50 '51 '52 '53 MARKET BASKETS PLENTY EXPENSIVE-Ne~wsch a r t above shows the cost of the market basket from 1939 to July 1953. High point for the period was August 1952, when it cost the shopper $11.08 to buy items shown, low was 1940, when the same basket cost a little over 34. Current prices show that the basket of food eosls over S10. Data compiled by Bureau of Labor Statistics. for only T MID-SOUTH FAIR NO TRAFFIC WORRIES AND LIVESTOCK SHOW MEMPHIS » September 24 Ihru October 3 Be sure to visit the Greyhound Exhibit GREYHOUND 109 X. Fifth Talking Mailbox Boosts Air Mail DETROIT W) Detroit letter writers were warned not to think they were hearing things if a certain downtown mailbox talks back next month. The mailbox will be wired lor sound from Oct. 9 to 10. When * letter is deposited a voice will remind the writer of the tdvantages of sending letters by air mail. The stunt In part of air malt month. It was proposed by the Post Office Department here an* approved by the Common Council. A horsepower Is the power required to lift 33,000 pounds one foot in one minute, or 550 pounds on« germ was, announced on March 24, 1 JAMES E. PEPPER I1 JAMES E. PEPPER 1 I JAMES E. PEPPER This whiskey makes & L you a wonderful [The whiskey to servem your honored a wonderful m f£ weekend The favorite =g whiskey at every port 1 . ] JAMES E. PEPPER like it! ^ JAMES E. PEPPER Favorite Whiskey! JAMES E. PEPPER JAMES E. PEPPER & CO., 1EXINGTON. 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