Federal Farm Mortgage Corporation: Hearing Before the Committee on Agriculture, House of Representatives, Seventy-third Congress, Second Session on H.R. 6670, January 10, 1934 |
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Page 10
The situation was this . After careful study we decided that it was unwise to exchange bonds for mortgages unless the bonds were worth par . The condition of the bond market was such that these 4 - percent bonds could not be sold for ...
The situation was this . After careful study we decided that it was unwise to exchange bonds for mortgages unless the bonds were worth par . The condition of the bond market was such that these 4 - percent bonds could not be sold for ...
Page 11
Governor MYERS . It is just permissive . I do not know that $ 800,000,000 of Commissioner's loans will be needed , but we would like to be able to use that much if necessary to meet the situation . Mr. HOPE .
Governor MYERS . It is just permissive . I do not know that $ 800,000,000 of Commissioner's loans will be needed , but we would like to be able to use that much if necessary to meet the situation . Mr. HOPE .
Page 12
And so we felt , when we analyzed the whole situation , that Congress had reached a very wise determination in setting the maximum loan figure at 75 percent . In doing that a program was offered to the farmer so that he could work his ...
And so we felt , when we analyzed the whole situation , that Congress had reached a very wise determination in setting the maximum loan figure at 75 percent . In doing that a program was offered to the farmer so that he could work his ...
Page 16
Now if something could be done to see that a fair scaling down all the way along the line would take place I think it would be very helpful in working out the situation and getting the farmers to feel more favorable to the idea .
Now if something could be done to see that a fair scaling down all the way along the line would take place I think it would be very helpful in working out the situation and getting the farmers to feel more favorable to the idea .
Page 17
We believe that with the organization which is now operating the bank we can now handle the situation in that territory . Mr. HOPE . There is not any reason why the Wichita Bank should not be in position to loan money on the same basis ...
We believe that with the organization which is now operating the bank we can now handle the situation in that territory . Mr. HOPE . There is not any reason why the Wichita Bank should not be in position to loan money on the same basis ...
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Common terms and phrases
able actually additional agricultural amended amount application approved approximately authorized believe bill BOILEAU bonds borrowers capital carry cash CHAIRMAN changed closed Commissioner's loans committee course Credit Act creditor deal debt desire determine difference difficulty directors District Emergency exchange extent Farm Credit Administration farm loan Farm Mortgage Act Farm Mortgage Corporation farmer Federal Farm Mortgage Federal land bank figures Finance FULMER funds further giving GLOVER Goss Government Governor MYERS guaranteed handle held HOPE Hovey income indebtedness interest issued January joint-stock land banks KLEBERG Land Bank Commissioner limitations Loan Act meet months necessary needs normal obtained officers operations paid passed percent period position possible present principal production provisions purchase question receive reduced reference refinancing scaling Secretary sell situation thereof thing tion Treasury understand United Wichita
Bibliographic information
| Title | Federal Farm Mortgage Corporation: Hearing Before the Committee on Agriculture, House of Representatives, Seventy-third Congress, Second Session on H.R. 6670, January 10, 1934 |
| Author | United States. Congress. House. Committee on Agriculture |
| Publisher | U.S. Government Printing Office, 1934 |
| Original from | University of Minnesota |
| Digitized | 15 Aug 2014 |
| Length | 27 pages |
| Export Citation | BiBTeX EndNote RefMan |