The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1933-05-18

fair returns for agriculture are
provided. The secretary may use
one or all of them. They are
briefly Cd Acreage reduction of
the basic agricultural commodities
by rental and benefit payments to
farmers; (2) payment of allotment
benefits on the domestic portion of
crop in return for agreements
covering specified crop reduction;
or 90 the use of marketing agree
ments with professors and hand
lers of basic farm commodities so
that higher prices will go to farm
ers under guaranteed system Of
production control and fair play.
For cotton growers special option
deals are provided.
The basic commodities found in
the law are wheat, cotton, field
corn, rice, tobacco, hogs, and milk
and it's products. On all commod-
tiles named except tobacco and
milk the base period for figuring
necessary price levels to reach
equality in farm buying power is
19O9-14. On tobacco and milk
products the base period is from
1928.
To meet the cash payments re-
imburse farmers for acreage re-
auctions and crop control to need
ful amounts, the federal govern
ment has $100,0O0,0OO in hand for
immediate use; but later on the
sums paid out of the treasury will
be restored by means of process
ing tax. This processing tax will be
levied, assessed and collected by
the internal revenue department
upon the first domestic processing
OF each basic commodity, including
imports processed in this county.
The tax will be levied gradually
and kept within reasonable bounds
always subject to the control of
the secretary and based on current
conditions of supply and rate of
consumption.
The agricultural credits section
amends the Federal Farm Loan Act
and provides for issuance of bonds
for the redemption and refinancing
of farm mortgages, the reduction
of interest and principal, and also
for the liquidation of joint-stock
land-bank business in an orderly
manner. This particular section
with all its points of adjustment
and relief are under the Farm
Credits Administration, in charge
of Henry Morganthau, Jr. Ample
local machinery will he in force tc
meet individual problems and
claims.
The third section takes up the
much discussed Imitation" pro
gram. It includes various means
at the will of the president, the
secretary of the treasury and the
federal reserve system for ad
Ejustment of national finances ant
financial policies in relation to in
ternational trade; for the coinage
Of money or the issuance Of FEEDER
al notes, and in general for thu
extension Of new credit and al
elastic monetary system.
State councils for commodity con
troll and adjustments, acting as of
fetal arms of the federal service
will be set up at once. The agri
cultural extension system and stat
statisticians will be represented
thereon. These committees will
afford connection between tn,
headquarters at Washington ant
the individual farmers, and in {
large degree the actual field super
vision will be handled by farmers
in their own congressional districts
simultaneously, commodity com
mittees of the department a
Washington will gather tentative
data and lay preliminary plans OF
contracts and adjustments. Thes,
will be rapidly submitted to spec
ial commodity hearings wher'
farmers and market authorize.
will be asked to state their views
During this interval the public
will be kept well informed, so tha'
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