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General Accounting Office / Russian Wheat Sales #229773

CBS Evening News for Monday, Jul 09, 1973
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(Studio) General Accounting Office criticizes wheat sale to Soviet Union last year Hurt consumer according to General Accounting Office reports to Congress
REPORTER: Roger Mudd

(DC) General Accounting Office says federal government paid unnecessarily large export subsidies to export companies selling grain to Russia. Results in incrd. prices here and hardships on taxpayer. [Congress John MELCHER - says Agriculture Department and export cost worked too closely together. All arrangements made between them at taxpayers' and farmers expense.] [Assistant Secretary Agriculture Carroll BRUNTHAVER - says prices incrd. because more consumer demand, not deal between Agriculture Department and export companies Drought after Russian wheat sale caused higher prices along with dollar devaluation.] General Accounting Office not satisfied. to continue probe. Senator Henry Jackson plans investigation for conflicting interests, grain futures and possible unethical behavior by grain companies and Agriculture Department
REPORTER: Joel Blocker

Reporter(s):
Blocker, Joel;
Mudd, Roger
Duration:
00:03:00

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