Federal Farm Mortgage Corporation: Hearing Before ..., 73-2 on H.R. 6670, January 10, 19341934 - 27 pages |
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Page 11
... among the farmers of the Farm Credit Administration on this point , and I understand it . to be the position of the administration that the law requires this to be done . Now , I do not read the FEDERAL FARM MORTGAGE CORPORATION 11.
... among the farmers of the Farm Credit Administration on this point , and I understand it . to be the position of the administration that the law requires this to be done . Now , I do not read the FEDERAL FARM MORTGAGE CORPORATION 11.
Page 12
... position where he would have a fighting chance to work his way out ; that if we just merely transferred a certain portion of the farmer's obligations over to the Government , and allowed a sufficient portion of it to remain as a hang ...
... position where he would have a fighting chance to work his way out ; that if we just merely transferred a certain portion of the farmer's obligations over to the Government , and allowed a sufficient portion of it to remain as a hang ...
Page 13
... loans at all . Some of the commissioners , as I understand , took the position that the Federal land banks would first have to 34521-34- pass on the commissioner's loans and turn them down before FEDERAL FARM MORTGAGE CORPORATION 13.
... loans at all . Some of the commissioners , as I understand , took the position that the Federal land banks would first have to 34521-34- pass on the commissioner's loans and turn them down before FEDERAL FARM MORTGAGE CORPORATION 13.
Page 17
... position as every other secured credi- tor , does it not ? Governor MYERS . But please remember this : The Federal land banks are owned by the borrowers and it stands between the farmer who owes the debt or the mortgage and the bond ...
... position as every other secured credi- tor , does it not ? Governor MYERS . But please remember this : The Federal land banks are owned by the borrowers and it stands between the farmer who owes the debt or the mortgage and the bond ...
Page 19
... position of the municipal obligations which have to depend on taxation for their support . Mr. KLEBERG . That is the point I was endeavoring to make . The CHAIRMAN . Any further questions ? Mr. GILCHRIST . Governor Myers , I come from ...
... position of the municipal obligations which have to depend on taxation for their support . Mr. KLEBERG . That is the point I was endeavoring to make . The CHAIRMAN . Any further questions ? Mr. GILCHRIST . Governor Myers , I come from ...
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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.