Evening star., 1933-05-11
FARM BILL SIGNING
IS DELAYED DAY
Rainey's Absence Postpones
Sending of Measure to
White House.
BY the Associated Press.

BY the Associated Press.
The administration geared its newly
designed farm lief-inf1ation machinery
today for start on vast price-lifting
experiment aimed at breaking the de-
pression's grip.
Only the signatures Of Speaker Rainey
and President Roosevelt are needed
to make this unprecedented legislation
law. Final congressional approval was
given yesterday.
Representative Byrns, the Demo-
cratic leader, said, however, the alb
sence from the city of Speaker Rainey
will delay sending the farm relief
imitation bill to the White House until
tomorrow.
The Speaker of the House must sign
the bill before Vice President Garner
and President Roosevelt may afflx their
signatures.
Rainey was delayed in Columbus,
Ohio, by weather conditions which pre-
vented his flight back to the Capital.
BY a special resolution the House
could authorize a Speaker pro tenn. to
sign the bill, but Byrns said he did not
think this course necessary.
Wallace Prepares to Act.
IF Speaker Rainey does not get back
TODAY, as I am advised he WILL not,
Bvrns said, I'VE will meet briefly TO-
morrow to permit him to sign the Dill
then"
Boston. where he made a speech last
night, ready to take the first steps
toward restoring the farmers purchas-
ing power within 36 hours after Mr..
Roosevelt pens his name.
The man who will direct the Federal
Reserve Boards operations IN expand.
ing credit as much as $4,000, 900, 900
under the inf1ationary provisions
Eugene R. Black-planned to take
Office during the day. Designated to
become governor of the board, Black
was appointed by the President only
yesterday
Wide Powers for Wallace.
The farm imitation measure
gives the President authority to order
the expansion of currency and devaluate
through the Federal Reserve System.
The Secretary of Agriculture has the
widest powers to raise commodity prices
through marketing agreements produc-
ton control and processing taxes.
This permissive authority for Wallace
was granted by Congress about the
same time as the Department OF Agrl-
culture estimated the Nations 1883
wheat production at the lowest in 29
wears. This was hailed as start on
reducing the huge surpluses piled up In
recent years and likely factor IN IN
creasing prices.
This development and the lndlcatlons
of improving conditions IN INDUSTRY
raised questions whether it would be
necessary to use many OF the powers
conferred by the new bill.
Secretary Woodin indicated that the
in1at:onary provisions might not De
invoked to a great extent II contmueo
Improvement was noted.
Meetings to Be Called.
Wallace's first steps to put the farm
program in operation will consist OF
ARRANGEMENTS for commodity meetings
of professors, dealers and otnerS. ne
will submit to them his policies Tor pet.
tering prices and curbing proouctlon,, OIL
DaSlC 4AoVSN 49, Vs.
wheat, cotton, corn, hogs, rlce' toDacco
and dairy products.
one of the Secretarys first efforts 70
boost prices will be through trade
agreements in which professors Will De
extended the support Of Government en-
forcement of voluntary agreements
which will be free Of antitrust law
prohibitions. Minorities who refuse 10
ioin in the agreements may be prougnt
in line" by use of powers 10 nceIlse
professors of both basic and competuls
products" A professor operating WILL
out license is subject 10 sun IilJHi a.s;1i ho
At the commodity meetings 1t VIII Os
decided whether taxes will be leVieo
this wear. Wallace regards curtali-
n,ent of production as vital to the sue
cess of the program. To obtain acreage
red1,ction he has an appropriation OF
s1OO .OOO. 900 available under the Dill Ior
having benefits or bounties to growers
who cut their output and to use pro-
ceeds from processing taxes 1or aooi-
tional payments.
Immediate Reaction Unlikely.
At the cotton meeting decision Will
be reached on the use of the Smith cot
ION ontion plan, under which wallace
could set aside more than 2,O0uOuu
hales on which the Government mas
made loans, pool it and sell options TO
growers who cut their acreage this year
80 per cent. ,.
While officials of the Federal Reserve
system have asserted they expect to 90
their part in carrying out the mnation
plan through the purchase OF $3,OOO,-
200 600 in Government securities, IL was
not deemed likely that the enecs Oh
this step would be felt at once.
with the system already holding ST.
400 600 600 of those securities, 1t was
believed unlikely that any more OF the
present securities would be purchased
and that the open market operations
would not be expanded to any consider
able extent until new securities were
issued by the Government or by the
Government owned corporations.