Agricultural Situation

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Department of Agriculture, Economics, Statistics, and Cooperatives Service, 1929 - Agriculture

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Page 2 - Congress to promote the effective merchandising of agricultural commodities in interstate and foreign commerce, so that the industry of agriculture will be placed on a basis of economic equality with other industries, and to that end to protect, control, and stabilize the currents of interstate and foreign commerce in the marketing of agricultural commodities and their food products — (1) by minimizing speculation.
Page 2 - There shall be considered as a surplus for the purposes of this Act any seasonal or year's total surplus, produced in the United States and either local or national in extent, that is in excess of the requirements for the orderly distribution of the agricultural commodity or is in excess of the domestic requirements for such commodity.
Page 3 - There is hereby authorized to be appropriated the sum of $500,000,000 which shall be made available by the Congress as soon as practicable after the approval of this act and shall constitute a revolving fund to be administered by the board as provided in this act.
Page 3 - SEC. 7. (a) Upon application by any cooperative association the board is authorized to make loans to it from the revolving fund to assist in — (1) the effective merchandising of agricultural commodities and food products thereof ; (2) the construction or acquisition by purchase or lease of physical marketing facilities for preparing, handling, storing, processing, or merchandising agricultural commodities or their food products...
Page 2 - Each advisory committee may by itself or through its officers, (1) confer directly with the board, call for information from it, or make oral or written representations to it, concerning matters within the jurisdiction of the board and relating to the agricultural commodity, and (2) cooperate with the board in advising the producers through their organizations or otherwise in the development of suitable programs of planting or breeding in order to secure the maximum benefits under this Act consistent...
Page 3 - ... and (4) The corporation agrees with the board to adopt such by-laws as the board may from time to time require, which by-laws, among other matters, shall permit cooperative associations not stockholders or members of the corporation to become stockholders or members therein upon equitable terms. (b) Any stabilization corporation for an agricultural commodity (1) may act as a marketing agency for its stockholders or members in preparing, handling, storing, processing, and merchandising for their...
Page 4 - ... (3) the agricultural commodity is regularly bought and sold in the markets in sufficient volume to establish a recognized basic price for the market grades of the commodity, and (4) there is available with respect to the commodity such market information as will afford an accurate record of prevailing prices for the commodity covering a period of years of sufficient length to serve as a basis to calculate the risk and fix the premium for the insurance.
Page 3 - ... the cooperative association applying for the loan by educating the producers of the commodity handled by the association in the advantages of cooperative marketing of that commodity...
Page 2 - In making the appointments the President shall give due consideration to having the major agricultural commodities produced in the United States fairly represented upon the board.
Page 3 - ... (3) to keep advised from any available sources and make reports as to crop prices, experiences, prospects, supply, and demand, at home and abroad; (4) to investigate conditions of overproduction of agricultural commodities and advise as to the prevention of such overproduction...

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