Agricultural relief: Agricultural relief

Bibliographic data

Multivolume work

Identifikator:: 1831932415

Document type:: Multivolume work

Title:: Agricultural relief

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Collection:: Economics Books

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Volume

Identifikator:: 1831932598

URN:: urn:nbn:de:zbw-retromon-232069

Document type:: Volume

Title:: Agricultural relief

Volume count:: Pt. 1

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1928

Scope:: III, 69 S.

Digitisation:: 2022

Collection:: Economics Books

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692 AGRICULTURAL RELIEF (d) ‘That for such insurance cooperative associations be required to pay a premium adequate on the average to cover the risks involved. (¢) That an insurance agreement which provides that insurance payments may be made out of the stabilization fund for the commodity during any marketing period, may be entered into by the board only in case the board determines that the effect of such an insurance agreement will be to enable such cooperative association to stabilize the market substantially in the interest of producers whether or not they are members of the cooperative association insured. It is recognized that over a period of years and in most of the years during the period, the market price for a commodity which is capable of being stored and held with safety will average higher during the period from the end of one harvest to the commencement of the hext, than it does during the harvest or delivery period itself. This must be true or those agencies which purchase and store commodities for later resale could not remain in business. But there are seasons which are exceptions to this rule and it is against those exceptional seasons that the cooperative associations are seeking the insurance which this section would provide. VI. Cooperative associations (new section): As a precautionary provision a new section is recommended substantially as follows: “Nothing in this act is intended or shall be construed to repeal or modify any provision of the act entitled ‘ An act to authorize association of producers of agricultural products,” approved February 18, 1922.” VII. Procedure if enjoined: The language of the act as drawn specifically requires the board, whenever certain findings of fact have been made, to put into effect marketing agreements provided in section 7 that will secure the objects set forth in section 1, and to finance the agreements by equalization fees. It might well be that under certain circumstances produced by litigation, as, for instance, the enjoining of the collection of the equalization fee in substantial amounts, the board would find it a wise policy to suspend entirely the collection of the fee upon the commodity. It may be that the present language of the bill does not deprive the board of discretion in such a contingency. In that event, however, it is determined that the board is not vested with such discretion, it is suggested that the committee consider the desirability of the inclusion of a specific provision upon the subject. Pursuant to your suggestion, we are cooperating with the legislative counsel in drafting the foregoing recommendations as amendments to H. R. 7940, for the committee’s consideration. We wish to take this occasion to thank your committee for the interest it has shown, and for its courtesy during the extended hearings upon this measure. Respectfully submitted. American Farm Bureau Federation, by S. H. Thompson, its president; the Corn Belt Committee, by William Hirth, its president and py F. M. Murphy, chairman of its legislative committee; Indiana Farm Bureau, by W. H. Settle, its president; Central State Soft Wheat Growers Association, by W. H. Settle, general manager; North Dakota Wheat Growers Association, South Dakota Wheat Growers Association, Minnesota Wheat Growers Association, Minnesota Council of Agriculture, by F. W. Mur- shy, their legislative representative; North Central States Agricultural Conference, by Forge N. Peck, its chairman; Nebraska Farm Bureau, by C. B. Steward, its secretary; Com- mittee For Agricultural Service, by Chester C. Davis; Illinois Agricultural Association, by Earl C. Smith, its president; Amer- can Cotton Growers Exchange, by B. W. Kilgore, its chairman -egislative committee; Burley Tobacco Growers Association, by J. N. Kehoe, its vice president; Dark Tobacco Growers Asso- -iation, by Reams D. Farmer, its secretary; Mississippi Staple Cotton Cooperative Association, by its president. H. R. 7940 OVERWHELMINGLY INDORSED BY FARM ORGANIZATIONS AND INDIVIDUALS During the first session of the Seventieth Congress H. R. 7940, known as the McNary-Haugen farm relief bill, has been indorsed by the farm organizations, a partial list of the indorsements of the bill, including the equalization fee, filed with the committee during the present session of the Seventieth Congress, includes the following besides thousands of individuals from all parts of the United States. especially from the South and West:

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