To Establish an Efficient Agricultural Credit System: Hearings Before a Subcommittee of the Committee on Agriculture and Forestry, United States Senate, Seventy-second Congress, First Session on S. 1197Considers legislation to establish a Federal liquidation and low interest rate refinancing program for farm mortgages. |
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Page 1
... Present : Senators Frazier ( chairman of the subcommittee ) , Thomas of Idaho , Smith , and McGill . Present also : Senators Norbeck of South Dakota , Nye of North Dakota , and Thomas of Oklahoma . Senator FRAZIER ( chairman of the ...
... Present : Senators Frazier ( chairman of the subcommittee ) , Thomas of Idaho , Smith , and McGill . Present also : Senators Norbeck of South Dakota , Nye of North Dakota , and Thomas of Oklahoma . Senator FRAZIER ( chairman of the ...
Page 2
... present the remainder to the Federal Reserve Board , and the Federal Reserve Board shall forthwith issue and deliver to the Federal Farm Loan Board Federal reserve notes , as now pro- vided by law , to an amount equal to the par value ...
... present the remainder to the Federal Reserve Board , and the Federal Reserve Board shall forthwith issue and deliver to the Federal Farm Loan Board Federal reserve notes , as now pro- vided by law , to an amount equal to the par value ...
Page 4
... present for the hearing to - day . I will call as the first witness Mr. William Lemke , of Fargo , N. Dak . , who was instrumental in the preparation of this bill ; and who also I will say has done a great deal to explain the provisions ...
... present for the hearing to - day . I will call as the first witness Mr. William Lemke , of Fargo , N. Dak . , who was instrumental in the preparation of this bill ; and who also I will say has done a great deal to explain the provisions ...
Page 5
... present so - called world - wide depression , which some of us good Republicans now call the Republican depres- sion rather than a Democratic panic . Now , the trouble as it relates to agriculture is that the agricultural interests were ...
... present so - called world - wide depression , which some of us good Republicans now call the Republican depres- sion rather than a Democratic panic . Now , the trouble as it relates to agriculture is that the agricultural interests were ...
Page 6
... present economic condition . Another reason is that the banks are afraid to loan money to farmers , and while they ... present conditions continue and the present lack of medium of exchange continues , it will be but a short time before ...
... present economic condition . Another reason is that the banks are afraid to loan money to farmers , and while they ... present conditions continue and the present lack of medium of exchange continues , it will be but a short time before ...
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Common terms and phrases
12 per cent acres agriculture amount annum average bankers BESTOR billion bushel census cent interest centum Chairman circulation cities committee condition Congress corporation farms crop debt deflation dollar EVERSON farm indebtedness farm land Farm Loan Board farm loan system farm mortgages Federal Farm Loan Federal land bank Federal reserve act Federal reserve banks Federal Reserve Board Federal reserve notes foreclosure Frazier bill full as follows going gold Government HOWARD HYDE Iowa KENNEDY legislation LEMKE liquidation and refinancing livestock ment Minnesota mortgages on farms Nation North Dakota paid postal savings depository present President printed in full question rate of interest resolution ROGERS SCHULTHEISS sell Senator FRAZIER Senator HATFIELD Senator MCGILL Senator NYE Senator SMITH Senator THOMAS SIMPSON statement subcommittee TALBOTT thing THOMAS of Idaho THOMAS of Oklahoma to-day United wheat Wisconsin YOUNG
Popular passages
Page 120 - You may put it into the record. (The document referred to and submitted by the witness is here printed in full as follows...
Page 68 - Le Sueur, Lincoln, Lyon. McLeod, Mahnomen, Marshall, Martin, Meeker, Mille Lacs. Morrison. Mower, Murray. Nicollet. Nobles. Norman, Olmsted, Otter Tail, Pennington, Pine. Pipestone, Polk, Pope. Ramsey, Red Lake, Redwood. Renville. Rice, Rock. Roseau. St. Louis. Scott.
Page 62 - I am going to do my part to get rid of that. (At this point followed informal discussion, which the reporter was directed not to record, at the conclusion of which the following occurred : ) Mr.
Page 36 - Mr. Chairman and gentlemen of the committee, I appreciate very much this opportunity of discussing this matter with the members of the committee on behalf of the 12 counties that I represent.
Page 95 - Now, therefore, be it Resolved by the House of Representatives of the State of Minnesota, the Senate concurring, That the Congress of the United States be, and it is hereby...
Page 95 - That the President of the United States and the Congress of the United States...
Page 93 - Now, therefore, be it Resolved, by the Senate of the State of North Dakota (the House of Representatives concurring therein), That the...
Page 3 - President to canvass said votes immediately, and if a majority of them be found to be for this act, to forthwith issue his proclamation giving notice of the fact ; and this act shall only be in full force and effect on and after the day of such proclamation.
Page 95 - That a copy of this memorial, duly authenticated, be sent by the secretary of state to the Senate and House of Representatives of the United States and to each of the Senators and Representatives of Montana in Congress.
Page 2 - Federal reserve bank, domestic or foreign, to the trustees of the postal savings depository system or to the Treasurer of the United States. And it shall be the duty of the Federal reserve banks to invest their available surplus and net profits, after the dividends are paid to their stockholders, in such farm loan bonds.