Word: acted
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Dates: during 1930-1939
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...House and Senate Farm Bills passed during the special session (TIME, Dec. 20, et seq.). Since it had already been approved by the House, 263-10-135, it needed only the approval of the Senate and the signature of Franklin Roosevelt to make it the Agricultural Adjustment Act of 1938 and the law of the land. This week, after three days of debate divided between assertions by various Senators .that they did not understand what they were voting for and contrary assertions that the bill had to be passed anyway, Majority Leader Barkley managed a roll call, got the bill...
...prices of the U. S. four major crops-wheat, cotton, corn, tobacco-also rice. Three major types of legislation provided models: the voluntary crop control insured by the first AAA through loans and benefit payments; the compulsory control enforced by penalties for overproduction introduced in the Bankhead Cotton Act and .the Tobacco Act; the voluntary reduction of soil-depleting acreage to encourage which the Government paid farmers $500,000,000 a year under the Soil Conservation Act...
...complex combination of all three, the Act empowers Secretary Wallace: 1) to set a national acreage allotment for each crop each season based on production during preceding years; 2) to give farmers who cooperate with the acreage allotment program loans on their crops whenever prices fall too far below "parity"-the purchasing power relative to other commodities which wheat, corn, rice and cotton enjoyed between 1909-14 and tobacco between 1919-29 (unless Secretary Wallace thinks other base periods would be more just); and 3) to invoke compulsory marketing quotas, subject to rejection by one third of the growers involved...
Wheat. To provide for a normal year's domestic consumption and export of wheat plus a 30% carryover, the Act sets the national acreage allotment for 1938 at 62,500,000 acres, compared to 68,198,000 acres under cultivation last year. Allotments must be proclaimed by Secretary Wallace before July 15, divided among the wheat-producing States, counties, divided by county committees (including the Department of Agriculture's extension agent) among individual farmers. If the price (currently $1.11 a bushel in Manhattan) is less than 52% of the parity-price on June 15, or if the July...
Cotton allotments must be made by November 15 of each year; for 1938 ten days after the passage of the Act. Loan provisions are the same as those for wheat. Marketing quotas (except for 1938) will go into effect when supplies reach 19,500,000 bales with a 2?enalty for excess marketing on first crop and a 3? penalty on subsequent crops...