Word: cropped
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Dates: during 1930-1939
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...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...
...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 crop estimate forecasts a bumper year, Secretary Wallace with the President's approval can make loans from 52% up to 75% of the parity price. Like the "nonrecourse loans" currently being given, on cotton, these loans are in effect Government payments in advance to the farmer for his 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...
...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...
Odds & Ends, 1) an appropriation of $4,000,000 for four regional research laboratories to investigate new uses, markets, and by-products for farm commodities; 2) the appropriation of $20,000,000 unexpended balance from the $500,000,000 Soil Conservation Act appropriation to finance a new Federal Crop Insurance Corporation empowered to issue policies to farmers against crop disaster; 3) a provision to limit payments to any one farmer in any one State to $10,000; 4) the recognition in principle of outright payments to farmers to make up the difference between market and "parity prices," which will...