12S— Lancaster Faming, Saturday, February 10,1979
McGovern’s bill would curb alien ag investmeiits
WASHINGTON, D.C.
Senator George McGovern
today introduced the
Agricultural Foreign In
vestment Control Act of 1979
aimed at regulating and
controlling what the Senator
called “an diarming trend
toward increased foreign
investment in U.S.
Agricultural farmland”.
McGovern said that
between January 1977 and ,
June 1978 known foreign
AFBF rejects ‘flexible parity’
MIAMI BEACH, Fla. -
Delegates to the 60th annual
meeting of the American
Farm Bureau Federation
(AFBF) have rejected the
idea of “flexible parity” by
an overwhelming vote.
At a session that ran late
into the night, a delegate
proposed replacing the Food
and Agriculture Act of 1977
with a plan of flexible
government supports tied to
production controls.
After 90 minutes of debate,
the proposal was turned
down by a lop-sided count of
189-46.
apple holdings up
Pa.
HARRISBURG - Penn
sylvania apples in cold
storage on December 31,
1978 totaled 223.3 million
pounds or 5.3 million boxes
of 42 pounds each, according
to the Pennsylvania Crop
Reporting Service.
The apple holdings are up
61.4 million pounds or 44 per
cent from a year ago.
More York apples are in
storage in Pennsyvlania
Drainage Pays High Returns
Typical
Investment Annual Return
Land Drainage 21-46% (d)
Farm Buildings 3-23% w)
Farmland H %(•)
Stocks 7.4% m
Bonds 6.1% (c)
COMPARE
Even with the conservative figures shown above, it's ob
vious that land drainage should top farmers’ lists of invest
ment priorities
COCALICO EQUIPMENT CO.
HJi'IiWW.KIIJP DRAINAGE &
\“/ EXCAVATING
V ,C V RD #3, DENVER, PA. 17517
V/ (215)267-3808
investments amounted to
826,000 acres of farm and
ranchland, with unusual
concentrations in Oregon,
Texas and Arkansas. In
South Dakota the situation
can not be termed “alar
ming”, but we do know that
in this period there have
been 19 transfers involving
4854 acres. The Senator said
that these transactions
represented only the
“known” transactions taken
On other issues, the
delegates agreed to urge the
government to place missile
sites in sparsely populated
areas where few residents,
farming operations and
commercial interests would
be affected in a national
emergency.
Delegates called on
Congress to refuse funds to
President Carter for im
plementation of the Panama
Canal treaty, saying that the
president usurped die power
and authority of the House of
Representatives by the
Canal give-away.
than any other variety, with
1.5 million bushels on hand,
followed by Rome at 824,000
bushels.
Other varieties of apples
and the amount in storage
are: Golden Delicious,
797,000 bushels; Red
Delicious, 537,000 bushels;
Stayman, 209,000 bushels;
Jonathan, 96,000 bushels;
Mclntosh, 28,000 bushels;
and all others, 1.3 million
bushels.
from ASCS and Extension approved through ap-
Service records. “Many plications and permits
authorities feel that issued by the Secretary of
“unknown” transactions Agriculture and restrict the
those missed in court house foreign ownership to a
records or covered up minority interest in the
through interlocking cor- ownership of the land,
porate transactions could Further authority would vest
easily amount to figures the Secretary of Agriculture
higher than the “known--with the power to monitor
transactions”. acquisitions to protect the
best interests of the United
States.
The McGovern bill would
limit foreign investments to
family sized economic units
In another repudiation of hearings, possibilities of
toj.. trade - with the People’s
mie ' Republic of China were
noted, but there was strong
regret expressed over
abrogation of our long
standing agreements with
the Republic of China.
House actions,
resolution was passed
calling for continued
recognition of Taiwan.
During earlier debate at the
resolutions committee
“I don’t consider the
provisions of this bill to be
cast inconcrete,” McGovern
said. “I do think that it is
time to hold bearings and
commence a national debate
in the Congress on the broad
policy question of regulating
foreign investments in U.S.
agriculture. Studies have
shown that the U.S. is
practically the only nation in
the developed world which
permits unrestricted in
vestment in land.
Regulations in OPEC
countries and , Western
“Soil Testing”
| “Personal
[ Recommendation”
IJ
I “Precise Application”
“Crop Evaluation”
CHEMGRO
FERTILIZER CO., INC
| STATE ST.. BOX 218
I East Petersburg, Pa. 17520
717-569-3296
European countries as well
as Japan are oftentimes
mild in comparison to the
suggestions I am making”,
the Senator said.
“National press and
television have already
focused on this question. It is
high time that priority
consideration be given in the
Congress to protect a
national resource that in the
long run could turn out to be
our most valuable asset”,
McGovern concluded.