A BILL TO PROVIDE A FEDERAL CHARTER FOR 74833 APRIL 13, 14, 15, 16, AND 19, 1948 Printed for the use of the Committee on Banking and Currency UNITED STATES WASHINGTON: 1948 H. R. 30. A bill to continue Commodity Credit Corporation as an agency of the United States on a permanent basis.. H. R. 5131. A bill to extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend the life of the Commodity Credit Corporation... H. R. 5152. A bill to extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend the life of the Commodity Credit Corporation___ H. R. 5156. A bill to extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend the life of the Commodity Credit Corporation... H. R. 5157. A bill to extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend the life of the Commodity Credit Corporation...--- H. R. 5160. A bill to extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend the life of the Commodity Credit Corporation.. H. R. 5179. A bill to extend the life of the Commodity Credit Corporation and to extend certain provisions affecting the price-support program for H. R. 5218. A bill to extend the applicability of certain provisions affecting the price-support program for agricultural commodities, and to extend Crofton, Charles B., representing the North American Export Grain 170 Dodd, Norris E., Under Secretary of Agriculture_. 12, 190 Murray, Hon. Reid F., a Representative in Congress from the Seventh Ogg, W. R., director, Washington office, American Farm Bureau Sanders, J. T., legislative counsel, National Grange- 125 3¤-8 92 Average of percentage changes from each year to the next in produc- tion of and income from farm products for period 1910–46_. Countries represented on International Emergency Food Committee 71 FEDERAL REINCORPORATION OF COMMODITY CREDIT CORPORATION TUESDAY, APRIL 13, 1948 HOUSE OF REPRESENTATIVES, COMMITTEE ON BANKING AND CURRENCY, Washington, D. C. The committee convened at 10 a. m., Hon. Jesse P. Wolcott, chairman, presiding. Present: Messrs. Wolcott, Smith, Kunkel, Talle, Sundstrom, Hull, Banta, Fletcher, Nicholson, Spence, Brown, Folger, Hays, Buchanan, and Multer. The CHAIRMAN. The committee will come to order. We will take up this morning the subject of the continuance of Commodity Credit Corporation. You will recall that last year we continued Commodity Credit Corporation for 1 year without rechartering it. Section 304 (b) of the Government Corporation Control Act of the Seventy-ninth Congress provides that— No wholly owned Government corporation created by a clause of any State shall continue after June 30, 1948 * * * as an agent of the instrumentality of the United States. That section also provides that wholly owned corporations may be reincorporated by an act of Congress. The prime bill before us incorporates the Commodity Credit Corporation as a Government-chartered corporation, whereas it is now a Delaware corporation. So we will have before us H. R. 6214, which does that, and also we will have before us the bill introduced last year by Mr. Brown of Georgia, H. R. 30, to continue Commodity Credit Corporation as a permanent agency, as does H. R. 6214, when and if it is reincorporated. We also have before us, dealing with the farm price-support program, H. R. 5131, introduced by Mr. Murray of Wisconsin; H. R. 5152, introduced by Mr. H. Carl Andersen of Minnesota; H. R. 5156, introduced by Mr. Curtis of Nebraska; H. R. 5157, introduced by Mr. Miller of Nebraska; H. R. 5160, introduced by Mr. Stefan of Nebraska; H. R. 5179, introduced by Mr. Talle of Iowa; H. R. 5218, introduced by Mr. Cunningham of Iowa. I think all of those price-support bills would continue the pricesupport program for 2 years with the exception of the bill introduced by Mr. Talle, which I understand is for 4 (The bills referred to are as follows:) years. [H. R. 30, 80th Cong., 1st sess.] A BILL To continue Commodity Credit Corporation as an agency of the United States on a permanent basis Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the first sentence of subsection (a) of 1 |