Agricultural marketing revolving fund

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Monograph

Identifikator:: 1830514946

URN:: urn:nbn:de:zbw-retromon-221271

Document type:: Monograph

Title:: Agricultural marketing revolving fund

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1930

Scope:: II, 39 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Tuesday, december 16, 1930. Failure to organize cooperative associations of tobacco growers in kentucky

Collection:: Economics Books

AGRICULTURAL MARKETING REVOLVING FUND 27 agricultural commodities of any kind, to the end that exchanges would not be permitted to make their own rules and regulations, except as they were approved by the Secretary of Agriculture, or by some officer designated by the Government for that purpose; and that the Secretary of Agriculture be given definite authority to enforce the rules after they have been approved. Those exchange rules and regulations are all built up by the traders them- selves. They are not in the interest of either the producers or consumers. They can not be, and they can change them every day at their will. Under the present legislation, there is not anybody I can find that has any authority to effectively deal with such exchanges. For instance, we have been talking about those people who are selling short on wheat to-day, and they are relying largely on going before a tribunal in the grain exchange for an adjudica- tion in the event it turns out to be a bad move on their part. That extends down to private operators, and there is no reason why it can not be regulated. Mr. Dicxinsox. I would like to say, in that connection, that 1 have a bill pending before the Agricultural Committee now that I am going to reintroduce with some additional provisions that cover the suggestions of the chairman of the board. I have been wondering whether or not it would be advisable to include with the Secretary of Agriculture the fhnkemy of the Farm Board Tr. Ayres. The so-called Capper-Tj r Tol : - Volstead bill did not cover that ink bill and the Capper Mr. Lecce. That is the present situation, as we see it. You have within recent times passed three laws dealing with this problem: One is the warehousing act, one is the grain inspection act, and the third is the grain futures act; but the legislation that is operating to-day is under different bureaus, not giving it the strength that it would have if it were consolidated in one regulatory or governing body, or if all the powers for its enforcement were in the hands of one administrative officer. There is one man who deals with the futures trading problem, but that law has no teeth in it, as I under- stand it. - Publicity is about the only weapon it affords. I do not say that it is wholly ineffective, but there is no provision that enables them to get at it—— Mr. Dickinson (interposing). There is a provision that they may cancel the license of a trader. Mr. Likgoe. I think the law reads that it can only be done upon the joint recommendation of the Attorney General, the Secretary of Agriculture, and the Secretary of Commerce, and, if my memory serves me right, that is something that is hard to obtain sometimes. The CraamryaN. Of course, you realize that this committee has no jurisdiction over legislative matters. Mr. Lecge. I understand that; but you asked the question as to what should be done. The Cramrmax. Certainly, and we want to have vour suggestions. Of course, we want to do whatever we can to improve this business and make the law more effective. Have you talked with the members of the legislative committee about this? Mr. Leer. I have talked with several members of the committee, and, also, with the Secretary of Agriculture. I think you are in touch with this particular legislation.

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