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.

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Document type:: Monograph

Structure type:: Chapter

Title:: Monday, december 15, 1930. Federal farm board. Statements of Alexander Legge, chairman; James C. Stone, vice chairman; and Chris L. Christensen, executive secretary

Collection:: Economics Books

AGRICULTURAL MARKETING REVOLVING FUND 3 Mr. Lecce. As a matter of fact, we have already authorized that, but there are outstanding applications of around $75.000,000 on those commodities. The Crairman. What commodities are those? Mr. Lecee. Cotton and wheat, or those two stabilization commodi- ties. It started in this way: When the cotton, for instance, was taken over from several cooperatives, they had money borrowed on it from private sources or private bankers, but the money was not due. Some of the private bankers are perfectly willing to continue to carry a quantity of that money on the commodities, just the same as they had been doing for the local cooperatives. Now, it is just a question of judgment whether these loans should be cleared up when the funds are available, because there will be some saving in interest, although the interest rate they are charging at the present time is not excessive. On many of them the rate of interest at the present time is 3 per cent. The Cumamman. What proportion of this money that you have already loaned is for the purpose of stabilizing the wheat market at the moment, how much for stabilizing the cotton market, and how much is for the purpose of stabilizing the market for other sommodities. . Mr. Lecee. We have outstanding at the present time $86,000,000 an cotton and $77,000,000 on wheat. The CrarMaN. I suggest that you put that table in the record, if it shows the amounts loaned on various commodities. ‘ Mr. CurisTeNsEN. Yes, sir. 1 have a table that tells the whole story. I have a table that shows the amount of money loaned to the cooperative associations, classified by commodities, and the amount of loans to the grain stabilization and cotton stabilization corpora- tions, as of November 30, last. It is complete. The Cramrman. Suppose you put that in the record. {The table referred to is as follows:)

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