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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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

10 AGRICULTURAL RELIEF loan whatever happens, and they may not be unwilling, under the other forms of legislation, that permit them to create corporations to which the loans are to be made, with no legal liability on the members individually in the cooperative to repay them. : Mr. Gray. We do not want that obligation removed from the corporation itself. We do not want any merger of cooperatives in such way, corporative or cooperative, that can borrow money from Uncle San: and be not obligated to return that money with interest on it. That is business. Mr. Fort. Neither do we. Mr. Gray. And so far as protecting the individual member of the cooperative is concerned, we are in absolute harmony with what you have in mind. Mr. Fort. Then your loan provision in section 5 is not what you want? Mr. Gray. In what particular? Mr. Fort. Because you are, in your section 5, making it purely a legal obligation, without any reference to any limitation on the repay- ment or terms for repayment other than obligatory terms which may be imposed by the board if they collect it by way of equalization fee, in fact, if not legally so. Mr. Gray. We are trying to confine the loans of this bill to loans to be used for disposing of surpluses, and that is shown in the language of section 5, where it says loans for the purpose of assisting’ the cooperative associations only in controlling the surplus of any agri- cultural commodity in excess of requirements for orderly marketing. There is the basis of our program—Iloans not for things other, but for things relative to the surplus disposition. Mr. Settle will intro- duce in good time, he being our chairman, at least for the day, some gentlemen who will have some amendments to the loan section which we will recommend. Mr. Chairman, I have presented all of the amendments which were delegated to me to present. However, there are two other amend- ments, one on the loan section and one relative to insurance, which our chairman for to-morrow. will have presented for consideration of the committee. So far as I am concerned, if the committee pleases, unless you want me to appear again, I have said all that I desire to say, and I can sum 1t up in one sentence: We want H. R. 7940 enacted into law, but first reported out from this committee with a favorable report, includ- ing the amendments which we are suggesting to you. I thank you. Mr. WiLriams of Illinois. Mr. Chairman, I want to insert a brief statement in the record, if I may. During the session of the committee yesterday morning Mr. Earl S, Smith, chairman of the Illinois Agricultural Association called me from Chicago on the telephone. In the course of our conversation I said to Mr. Smith that I had heretofore as a member of this committee and a Member of the House consistently supported the equalization fee. That I believed it was workable and was the best method yet suggested to procure the necessary funds for the stabilization of agriculture. That if there was even a remote chance for us to have that scheme written into law at this time I would give it my earnest support. I stated further that owing to conditions here which are perfectly obvious and which everv one recocnized. the enactment of

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