Federal Farm Mortgage Corporation: Hearing Before ..., 73-2 on H.R. 6670, January 10, 19341934 - 27 pages |
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Page 9
... farmer reasonable , we think that it may be necessary for the banks to have more capital . There- fore , we request the permission to increase the capital if the Secretary of the Treasury and the Farm Credit Administration believes it ...
... farmer reasonable , we think that it may be necessary for the banks to have more capital . There- fore , we request the permission to increase the capital if the Secretary of the Treasury and the Farm Credit Administration believes it ...
Page 10
... farmer by the use of cash than by the use of the bonds which were worth less than par under the conditions existing at the time . Mr. HOPE . Have any of these bonds been offered to the public ? Governor MYERS . We discussed the matter ...
... farmer by the use of cash than by the use of the bonds which were worth less than par under the conditions existing at the time . Mr. HOPE . Have any of these bonds been offered to the public ? Governor MYERS . We discussed the matter ...
Page 11
... farmer , and are helpful in obtaining the scaling down of excessive debts . Thus , these loans make it possible for the good farmer to rearrange his debts so he can handle them . In almost all of the really distressed cases , the Com ...
... farmer , and are helpful in obtaining the scaling down of excessive debts . Thus , these loans make it possible for the good farmer to rearrange his debts so he can handle them . In almost all of the really distressed cases , the Com ...
Page 12
... farmer's obligations over to the Government , and allowed a sufficient portion of it to remain as a hang over , it would swamp the farmer so that he could not work his way out . So we came to the conclusion that it was the intention of ...
... farmer's obligations over to the Government , and allowed a sufficient portion of it to remain as a hang over , it would swamp the farmer so that he could not work his way out . So we came to the conclusion that it was the intention of ...
Page 13
... farmer can carry , and we have found that we were doing no kindness to the farmer , and that we were doing no kindness to the creditor , to allow him to go ahead under a new program , which just as sure as could be would result ...
... farmer can carry , and we have found that we were doing no kindness to the farmer , and that we were doing no kindness to the creditor , to allow him to go ahead under a new program , which just as sure as could be would result ...
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Common terms and phrases
1933 1 Springfield amended U.S.C. application approved authorized Bank Commissioner loans Bank Commissioner's loans bill board of directors BOILEAU bonds for mortgages bonds issued borrowers capital cash CHAIRMAN creditor District Emergency Farm Mortgage end thereof equal face value Farm Credit Act Farm Credit Administration Farm Loan Act farm loan bonds Farm Mortgage Act Farm Mortgage Corporation farmer Federal Farm Loan Federal Farm Mortgage Federal land bank FULMER GILCHRIST GLOVER Goss Government Governor MYERS guaranteed hereby HOPE HOVEY income indebtedness interest rate intermediate credit banks joint-stock land banks KLEBERG land bank bonds Land Bank Commissioner Land Bank Commissioner's land-bank loans loans closed Loans outstanding Dec MARVIN JONES Mortgage Corporation bonds mortgage loans necessary Number Amount paid paid-in surplus poration principal provisions purpose question Reconstruction Finance Corporation refinancing revolving fund scaling Secretary section 32 taxation tion title 12 TOBEY Treasury unconditionally guaranteed United Wichita bank
Popular passages
Page 3 - States and such guaranty shall be expressed on the face thereof, and such bonds shall be lawful investments, and may be accepted as security, for all fiduciary, trust, and public funds the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof.
Page 3 - Treasury is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended, and the purposes for which securities may be issued under such Act, as amended, are extended to include any purchases of such notes and obligations.
Page 3 - The Secretary of the Treasury is authorized and directed to purchase any notes and other obligations to be issued hereunder and for such purpose he is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act...
Page 3 - All redemptions, purchases, and sales by the Secretary of the Treasury of such notes or other obligations shall be treated as public debt transactions of the United States.
Page 2 - The Corporation shall be entitled to the free use of the United States mails in the same manner as the executive departments of the Government.
Page 2 - ... laws applicable to the employment and compensation of officers and employees of the United States...
Page 3 - Such obligations shall be in such forms and denominations, shall have such maturities, shall bear such rates of interest, shall be subject to such terms and conditions, and shall be issued in such manner and sold at such prices as may be prescribed by the Commodity Credit Corporation, with the approval of the Secretary of the Treasury.
Page 5 - States, said subscription to be subject to call in whole or in part by the board of directors of said land bank upon thirty days...
Page 4 - The Corporation, including its franchise, its capital, reserves, and surplus, and its income, shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority, except that any real property of the Corporation shall be subject to State, Territorial, county, municipal or local taxation to the same extent according to its value as other real property is taxed.
Page 4 - Federal land banks, or to joint stock land banks, and farm loan bonds issued under the provisions of this Act, shall be deemed and held to be instrumentalities of the Government of the United States, and as such they and the income derived therefrom shall be exempt from Federal, State, municipal, and local taxation.