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

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

Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Further statement of Chester H. Gray, Washington representative of the American Farm Bureau Federation

Collection:: Economics Books

AGRICULTURAL RELIEF amount too much. I am inclined to agree with you, and I want to do what the farm organizations want. Mr. Gray. I think, Mr. Jones, the cooperative associations will use these loan features for current marketing operations, and they will use them very advantageously. Mr. Jones. I understood you to say the latter condition would probably prevail, that they would be unwilling to use the loans. Mr. Gray. For the purpose of disposing of the surplus. They will be unwilling to tackle that proposition, of obligating themselves to pay back the loans at interest for the purpose of disposing of the surplus when usually there is a loss in such an operation. Mr. Jones. That is the impression I got from talking with a num- ber of the representatives of farm organizations, that they would not use these loan features provided for, and you yourself stated that thev would probably be unwilling to use it, and it seems to me your additional provision falls to the ground. Mr. Gray. These conferees have been working together for months, have appeared before this committee time and time again, and have said just what I have said, in different or better words, that cooper- tives will not use those loans. The loaning provisions of any of the bills designated generally as the loaning type of bill, will prove ineffec- tive, not helpful to agriculture, the principal reason being that when vou have a surplus to dispose of the cooperatives will be afraid to involve themselves in disposing of that surplus. Mr. Jones. That is the impression I got, just as vou have stated it, in talking with them. The extra condition, you say, is put in to cure the situation presented by Mr. Williams, and you say the second condition is the one which would prevail. 39 The provisions of section 5 relating to loans to cooperative associations will not be effective to control such surplus because of the inability or unwillingness of the cooperative associations handling sneh commodity to control such surplus with the assistance of such loans. Your explanation shows, and you have stated awhile ago, that the second condition would probably be the one that would prevail, that they would be unwilling to utilize it. If they are unwilling to control it what does your additional provision amount to? I am asking for an honest response on that. I am trying to get correct information. Mr. Gray. There have been many people of your community, as well as elsewhere, and in the Congress, advocating the loan method of solving this surplus question and, as we acreed yesterday. surplus is the question. Mr. Jones. You say they will not use that if it is given to them. What does your additional condition amount too, then? Mr. Gray. It gives them a run for their money. Mr. Fort. There have been other proposals introduced in Congress which provided for loans to corporations set up by cooperatives, where no liability for the repayment of the loan itself could thercafter rest upon the cooperative or its individual members. Your language there, as you have it in section 5, and as you now have it in this second provision in section 7, limits the loans to the cooperative associations themselves and imposes on them a direct obligation for the repayment. It is quite conceivable that the cooperative assocla- tions might be unwilling to operate under loans under a provision that constituted a legal liability on that cooperative to repay that

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