Word: farms
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Dates: during 1920-1929
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...Farm relief last week actually began its journey from the field of legislation to the husbandman's acres. The Congress, straining and wheezing, passed an administration bill, minus the export debenture plan and President Hoover, signing it with a smile and two pens, called it "The most important measure ever passed by congress in aid of a single industry." It was an end and a beginning...
When President Hoover picks the members of the now authorized Federal Farm Board, there will come into existence an agency for agriculture comparable in scope and authority with the Interstate Commerce. Commission for transportation, the Federal Reserve Board for finance...
...capital of $500,000,000 supplied from the U. S. Treasury. With this cash to lend, it will try to induce farmers to forego some of their normal independence, to join co-operative marketing associations. These associations, with money borrowed from the board, will attempt to moye food from farm to market more cheaply, with less spoilage and waste, than is now accomplished by scattered and individual private effort...
Less than one-third of the 6,500,000 U. S. farmers are now members of joint selling organizations. Success of farm relief now depends almost entirely upon the extent to which the farmers will now co- operate. Many experts believe that more than two-thirds of the farmers must join co-operatives before any appreciable benefit will accrue to husbandry as a whole...
...second important task of the new board will be to help organize and finance special stabilization corporations among farmers to purchase surplus farm products from glutted seasonal markets and hold them in storage pending better prices. In the past such large-scale grain corporations on private capital and under private control have failed. It remains to be seen whether federal cash and supervision can make them successful. Critics of the new farm relief legislation predict that the Federal Farm Board will loan large sums to such corporations which in turn will buy in surplus commodities on a falling price market...