Word: corns
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Dates: during 1930-1939
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Bill. Thus propelled from the 75th Congress was the third major Farm Bill of the Roosevelt Administration, aimed at regulating the production and 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...
...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 in a referendum and enforced by penalty taxes, whenever national supplies of any crop...
...Corn allotments must be proclaimed by February 1 of each year; that for 1938 "as soon as practicable." Corn crop loans will be granted when the price (currently 73? a bushel in Manhattan) is below 75% of parity on November 15, or if the November crop estimate is excessive. Marketing quotas will be invoked when supplies reach 2,700,000,000 bushels, penalties assessed at 15? a bushel...
...William Horn, a farmer from Ohio who was just as bald as Clarence Huff. Last year Farmer Horn quietly replaced Farmer Huff as president. And last September Farmers National had the bad luck to be short in the market when there was a squeeze in corn (TIME, Oct. 4). Farmers National paid through the nose to cover its short commitments. So the decision of President Horn and his stockholders last week seemed to be the best way out of a distasteful situation...
...already a member. Now part of its assets are five memberships, worth some $3,000 apiece. The Farm Credit Administration a year ago took over most of its grain elevators. About all it has left is 3,000,000 bushels of wheat and almost 1,000.000 bushels of corn. This will be sold, said Farmer Horn, "in an orderly manner" during the next five or six months. The ten regional cooperatives-in Chicago; Kansas City; Minneapolis; Amarillo, Tex.; Denver; Enid, Okla.; Omaha; Fostoria, Ohio; Indianapolis and Ogden, Utah-will go on doing business as usual...