It is now estimated that, by the close of the fiscal year, the value of all dispositions will aggregate $4 billion. This is $1.3 billion, or 48 percent, more than the volume of disposals provided for under our current administrative expense authorizations. The increased volume of sales of commodities is fairly general. Some of the major increases over the previous estimates are: Cotton sales up 3.7 million bales, or 131 percent; corn sales up 63 million bushels, or 45 percent; peanut sales up 122 million pounds, or 76 percent; milled-rice sales up 15 million hundredweight, or 293 percent; dry milk sales up 142 million pounds, or 78 percent. COMPARISON OF ORIGINAL ESTIMATE OF COMMODITY VOLUME WITH REVISED ESTIMATE Mr. Chairman, I have a complete statement of all of the differences in the volume of commodity transactions contemplated by the 1957 budget estimates compared with present estimates, if you care to have it placed in the record. Mr. WHITTEN. I believe it would be well to include that in the record at this point. (The statement referred to is as follows:) Commodity Credit Corporation-Loan and inventory operations, fiscal year 1957-Comparison of estimates in 1957 and 1958 budget [Quantities] 91009-57--20 |